{"id":14335,"date":"2012-09-06T15:50:56","date_gmt":"2012-09-06T13:50:56","guid":{"rendered":"http:\/\/www.myza.co.za\/09\/mideast-gasoil-premiums-soar-aramco-buys-continue\/"},"modified":"2012-09-06T15:50:56","modified_gmt":"2012-09-06T13:50:56","slug":"mideast-gasoil-premiums-soar-aramco-buys-continue","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/mideast-gasoil-premiums-soar-aramco-buys-continue\/","title":{"rendered":"Mideast gasoil premiums soar, Aramco buys continue"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Market tight, Kuwait refinery issue restricts supply<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Bapco cargo sold above $5\/bbl, highest in years<\/p>\n<p><span><\/span><\/p>\n<p>By Humeyra Pamuk and Jessica Jaganathan<\/p>\n<p><span><\/span><\/p>\n<p>DUBAI\/SINGAPORE, Sept 6 (Reuters) &#8211; Gasoil premiums in the<br \/>\nGulf Middle East hit new highs this week, driven by a tight<br \/>\nmarket where the spot is being supported by still strong summer<br \/>\ndemand, traders said.<\/p>\n<p><span><\/span><\/p>\n<p>Saudi Aramco has been the main buyer in the Gulf region<br \/>\nduring the summer, snapping up more than 1.6 million tonnes of<br \/>\ngasoil between June and September while demand from South Africa<br \/>\nand Sudan has also supported prices, traders said.<\/p>\n<p><span><\/span><\/p>\n<p>An outage at Kuwait&#8217;s Mina Abdullah refinery, where a gasoil<br \/>\nproducing hydrocracker is thought to have been down for at least<br \/>\ntwo weeks, has been further squeezing supplies.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The market is just so tight right now, so any cargoes being<br \/>\noffered are instantly snapped up,&#8221; a Gulf-based trader said.<br \/>\n&#8220;Gasoil premiums have been going up steadily and I think they<br \/>\nwill likely stay high until end of the year at least.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>The tight market was reflected in the most recent tender by<br \/>\n Bahrain Petroleum Co (Bapco), which has sold a gasoil cargo for<br \/>\nOct 28-31 lifting at a premium of $5 to $5.35 a barrel above<br \/>\nMiddle East quotes, consistent with November and August-loading<br \/>\ncargoes sold earlier, traders said.<\/p>\n<p><span><\/span><\/p>\n<p>Recent sales to Aramco had a premium of around $4.70 a<br \/>\nbarrel, compared with $4.20 to $4.50 a barrel in July and<br \/>\nAugust, two traders said.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Market tight, Kuwait refinery issue restricts supply * Bapco cargo sold above $5\/bbl, highest in years By Humeyra Pamuk and Jessica Jaganathan DUBAI\/SINGAPORE, Sept 6 (Reuters) &#8211; Gasoil premiums in the Gulf Middle East hit new highs this week, driven by a tight market where the spot is being supported by still strong summer [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-14335","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14335","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=14335"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14335\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=14335"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=14335"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=14335"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}