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Saudi Aramco cut propane prices to Asia, ending two months of gaining streakSaudi Aramco cut propane prices to Asia, ending two months of gaining streak |
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Saudi oil and gas giant – Aramco has surprisingly reduced January contract propane prices to Asia amid the traditionally high demand season. Weak demand from other downstream sectors coupled with seemingly comfortable supply in the US is attributed to the price decision.
The latest offer stands at $590/ton, FOB from the port of Ras Tanura.
The price provides a benchmark against which Middle East sales of liquefied petroleum gas (LPG) to Asia are priced.
The producer’s price list for propane and butane are shown in the following table:
|
Product |
Price List on 29 Dec. 22 |
M.O.M Changes |
|
Propane |
$590 |
-$60 |
|
Butane |
$605 |
-$45 |
Propane is a primary feedstock used by propane dehydrogenation (PDH) operators in producing propylene monomers.
