Sep 21, 2020 4:52 p.m.

Saudi Aramco announced August propane prices with minor increases

The hike emerged despite the improved spot availability as Saudi Arabia ended the voluntary cuts in crude oil production.

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It is reported that Saudi Aramco has opened August loading offers for propane to Asia market with $5/ton increased from the previous month, marking the fourth consecutive monthly hike from the producer.

The latest offer stands at $365/ton, FOB from the port of Ras Tanura. 

The hike emerged despite the improved availability as Saudi Arabia ended the voluntary cuts in crude oil production, which is in addition to the OPEC+ agreement on curbing output.

The producer’s latest prices for propane and butane are shown in the following table:

Product

Price List on

28 July 2020

M.O.M Changes

Propane

$365

+$5

Butane

$345

+$5

 

Propane is a primary feedstock used by propane dehydrogenation (PDH) operators in producing propylene monomer.

Country

Saudi Arabia