Saudi Aramco sets February propane, butane prices

31/01/2024 Argaam Exclusive

Saudi Arabian Oil Co. (Saudi Aramco) raised its February contract prices by $10 a ton month-on-month (MoM) to $630 a ton.

SAUDI ARAMCO Propane prices for FOB Ras Tanura

Month Value (Dollar\Ton) Change
2024 January 620.00 10.00
2024 February 630.00 10.00

Aramco also increased February butane contract prices by $10 a ton MoM to $640 a ton.

SAUDI ARAMCO Butane prices for FOB Ras Tanura

Month Value (Dollar\Ton) Change
2024 January 630.00 10.00
2024 February 640.00 10.00

Prices are based on a free-on-board (FOB) basis from the Port of Ras Tanura.

 

Aramco's prices are used as a benchmark for other Asian exporters since the company is the biggest exporter of liquefied petroleum gas (LPG) in Asia.

 

The oil giant sells propane and butane to local petrochemical companies, with a 20% discount compared to FOB Ras Tanura prices, based on the pricing rate applied since early 2017.




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