Saudi state oil company Aramco has reportedly made a deal with BP (NYSE:BP) and Lukoil to acquire up to 360,000 tons of gasoline from the two companies.
The deal is so good that it has raised some eyebrows, as Aramco will acquire 95 octane at a price of $15 to $16 and 91 octane from $5 to $6 over the benchmark Mediterranean quote.
Time parameters of the deal are from January to June.
Also included in the deal is an option to acquire 95 octane at $2 to $2.10 over the Singapore benchmark quotes and 91 octane at a premium of $1.90 to $2 over the Singapore benchmark.
Showing posts with label Saudi Aramco. Show all posts
Showing posts with label Saudi Aramco. Show all posts
Thursday, January 13, 2011
Wednesday, December 15, 2010
General Electric (NYSE:GE) Secures $500 Million Saudi Contract
General Electric (NYSE:GE) has been awarded an oilfield service contract with Saudi Aramco, valued at $500 million.
The giant conglomerate will provide services and equipment to the company.
Included in the equipment provided by General Electric will be 11 gas turbine generators to increase the supply of power at the oil field project, which is in a remote location.
General Electric was trading at $17.44, down $0.25, or 1.41 percent, as of 1:26 PM EST.
The giant conglomerate will provide services and equipment to the company.
Included in the equipment provided by General Electric will be 11 gas turbine generators to increase the supply of power at the oil field project, which is in a remote location.
General Electric was trading at $17.44, down $0.25, or 1.41 percent, as of 1:26 PM EST.
Wednesday, October 27, 2010
Shell (NYSE:RDS-A), Saudi Aramco Venture's Second Phase to take Five Years
A statement from the joint venture between Royal Dutch Shell Plc (NYSE:RDS-A) and Saudi Aramco said the second phase of the exploration for natural gas will take five years to finish.
The exploration is being conducted in the southern Rub Al Khali desert.
Over the first phase of exploration, seven wells had been drilled in the Rub Al Khali region, with "good" results.
South Rub al-Khali Co., or SRAK, started the second phase of exploration on July 26.
“We will be conducting activities that will help us further evaluate the hydrocarbon resources of the greater Kidan area, their distribution and properties,” said SRAK.
The exploration is being conducted in the southern Rub Al Khali desert.
Over the first phase of exploration, seven wells had been drilled in the Rub Al Khali region, with "good" results.
South Rub al-Khali Co., or SRAK, started the second phase of exploration on July 26.
“We will be conducting activities that will help us further evaluate the hydrocarbon resources of the greater Kidan area, their distribution and properties,” said SRAK.
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