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Aramco sells highest amount of LPG in 2011 in July

Petrochemicals

Saudi Aramco has sold a little over a quarter of a million mt of LPG in the spot market for July loading due to a crude production hike by the Kingdom.

Saudi Aramco has so far sold 264,000 mt of refrigerated LPG in six cargoes of 44,000 mt each for July loading, the highest in a month so far this year.

"Yes, this month is very exceptional," said a source close to Saudi Aramco about the company's July spot availability, reported Platts.

Platts had earlier reported in mid-June -- when Aramco offered its first July loading cargo -- that the Saudi oil giant's planned increase to crude production for July was leading it to offer spot LPG to the market.

Trade sources said that the evenly split cargo was bought by Statoil, the mixed LPG cargo by South Korean trader E1, and the two full propane parcels by Glencore and Vitol.

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