MOSCOW: Oil producer Saudi Aramco left its December official selling prices (OSPs) for liquefied petroleum gas (LPG) unchanged while Algeria’s Sonatrach cut theirs by 2-3% due to rising supply in the Mediterranean region, traders said.
Aramco’s December OSP for propane was stable at $635 per metric ton while butane was $630 per ton.
Propane and butane are types of LPG with different boiling points.
LPG is mainly used as a fuel for cars, heating and as a feedstock for other petrochemicals.
Sinopec, Aramco start building petrochemical complex in China’s Fujian
Sonatrach lowered its December OSP for propane by $10 per ton to $585 and cut its OSP for butane by $15 per ton to $585.
Aramco’s LPG OSPs are used as a reference for contracts to send the product from the Middle East to the Asia-Pacific region.
Sonatrach’s OSPs for LPG are used as benchmarks for the Mediterranean, Black Sea region and Turkiye.
Comments