Saudi Aramco Left Unchanged OSPs for LPG in Dec, Sonatrach Cut OSP for Propane by 7%
12.01.2023 By Tank Terminals - NEWS

December 1, 2023 [Nasdaq]- Saudi Arabia’s state oil producer Aramco 2222.SE has left unchanged official selling prices (OSPs) for liquefied petroleum gas (LPG) in December, while Algeria’s Sonatrach has reduced OSP for propane by 7% due to weaking demand, traders said.

 

Aramco’s December OSP for propane was stable at $610 per tonne PRO-OFFCL-SA and for butane at $620 per tonne BUT-OFFCL-SA.

Propane and butane are types of LPG with different boiling points.

LPG is mainly used as a fuel for cars, heating and as a feedstock for other petrochemicals.

Sonatrach has cut its December OSP for propane by $40 per tonne to $520 PRO-OFFCL-DZ, while its OSP for butane increased by $5 to $540 per tonne. BUT-OFFCL-DZ.

Aramco’s OSPs for LPG are used as a reference for contracts to supply the product from the Middle East to the Asia-Pacific region. Sonatrach’s OSPs for LPG are used as benchmarks for the Mediterranean, Black Sea region and Turkey.

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