Saudi Aramco sells 55,000 tons of A310 naphtha from Ras Tanura after a long suspension

16-May-12

Asia’s Number one naphtha supplier- Saudi Aramco has sold 55,000 tons of A310 naphtha from Ras Tanura after a long suspension. Supplies of A310 grade was curbed by Saudi Aramco because of planned maintenance, as per Reuters. The shutdown in February was one of the factors contributing to the tight supply situation in Asia in January to April. A 225,000 bpd condensate splitter was restarted by the company in early May, with an estimated production capacity of at least 150,000 tons of A310 grade naphtha per month. Since the start of May, the market direction has changed with demand falling and supply rising. The cargo, scheduled for May 24-25 loading, was sold at premiums of US$31-33/ton to Middle East quotes on a free-on-board (FOB) basis, but traders said the identity of the buyer was not immediately clear.