Saudi Aramco has reduced its December contract prices for propane by $10 to $380 a tonne and for butane by $20 to $420 a tonne.
Prices are based on a free-on-board (FOB) basis from the Port of Ras Tanura.
Aramco’s pricing is the benchmark for exporters in Asia. The company is currently the largest liquid petroleum gas exporter to the region.
The state-owned energy giant sells liquid petroleum gas (LPG), propane, and butane to local petrochemical companies at a 20 percent discount compared to export prices from the port. The company’s new pricing system came into effect earlier this year.
|
Saudi Aramco’s Contract Prices (2016) |
||
|
Month |
Propane |
Butane |
|
January |
345 |
390 |
|
February |
285 |
315 |
|
March |
290 |
320 |
|
April |
320 |
350 |
|
May |
325 |
380 |
|
June |
330 |
365 |
|
July |
295 |
310 |
|
August |
285 |
290 |
|
September |
295 |
320 |
|
October |
340 |
370 |
|
November |
390 |
440 |
|
December |
380 |
420 |
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