Aramco Trading sells 10 million barrels of Khafji crude
In short
Aramco Trading has sold 10 million barrels of Khafji crude, according to the summary. It says GS Caltex and Shenghong Petrochemical bought 2 million barrels each, and Hindustan Petroleum, Indian Oil and Reliance bought 2 million barrels each.
This matters because it shows demand from Asian refiners and sets shipments for late October to November at Fujairah. The reporting does not say the price of the crude.
What the reporting says
Aramco Trading concluded a tender for 10 million barrels of Khafji crude, with Asian refiners showing interest, according to a publisher summary. The note says GS Caltex and Shenghong Petrochemical each bought 2 million barrels, while Hindustan Petroleum, Indian Oil and Reliance each acquired 2 million barrels. The crude is scheduled to be loaded via ship-to-ship transfers at Fujairah from late October to November; the reporting does not state pricing.
Why it matters
Aramco Trading concluded a tender for 10 million barrels of Khafji crude, with buyers including GS Caltex, Shenghong Petrochemical, Hindustan Petroleum, Indian Oil and Reliance. The cargo is scheduled to be loaded via ship-to-ship transfers at Fujairah from late October to November. The summary does not provide the tender price or explain why these refiners bought the crude. The immediate market relevance is to regional crude flows and refinery supply.