China Economic Net, Riyadh, January 17 (Reporter Wang Junpeng) said, according to the energy futures market, as some refineries will soon stop production, the Middle East gasoline, diesel and other fuel supply may be a slight , the option price or slightly higher.
It is understood that Saudi Aramco will be closed from February 2011 production of 15 million barrels / day of crude oil distillation equipment, equipment maintenance for a period of 45 days. Bahrain Petroleum Company, Abu Dhabi National Oil Company and other energy companies will also be the Middle East in mid-January to mid-February closure of some refinery equipment. Analysis of the industry in the coming weeks or 10 days or so that you can see gasoline, diesel and other market supply. Although the needs of the Middle East is not very large, but during the shutdown at the refinery, there may be more people in the market for cash.
Saudi Aramco has been with British Petroleum and Lukoil signed a deal within the next six months to buy at below-market price of 360,000 tons gasoline. In addition, Aramco has to include Vitol, Cargill, Total, IPG Group, and other energy companies, including the purchase of low sulfur diesel for 48 batches, the transaction period February 2011 to 11 months. Fuel retailers Emarat UAE company also completed a long-term procurement plans in January 2011 to June of the monthly purchase of two groups of oil cargo.
futures dealers said the market relatively tight supply of low sulfur diesel. Mozambique, Kenya, Tanzania and other East African countries is the main buyer of low sulfur diesel. However, the low sulfur diesel in the Middle East is gradually popular.
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