December 4, 2023

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Saudi’s Aramco gives extra vacuum gasoil provides for Could

1 min read

Nevertheless, Aramco not too long ago supplied three cargoes of 525,000 barrels of VGO every for loading out of Jizan in Could, delivery data confirmed, up from two cargoes in April.

Saudi Aramco was not instantly accessible for remark.

The cargoes are slated for loading between Could 1-3, Could 11-13, and Could 21-23. Aramco normally gives as much as two VGO cargoes monthly, in response to commerce sources and previous tender data.

VGO, a residual oil left over from petroleum distillation, is often used as a refinery feedstock to provide diesel.

The rise in Aramco’s VGO exports additionally comes at a time when diesel refining margins have weakened globally.

Asian refiners’ diesel margins have collapsed by greater than 50 per cent to $14.46 a barrel on Tuesday, in contrast with the beginning of the yr, Refinitiv information confirmed.

In the meantime, benchmark Northwest European diesel refining margins fell beneath $16 a barrel this week, their lowest since February 25, 2022, as imports into the area remained excessive.

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