Saudi Aramco holds LPG OSPs steady for May, Sonatrach cuts prices by 2% to 18%

SAUDI ARAMCO
Tadawul All Shares Index

SAUDI ARAMCO

2222.SA

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Tadawul All Shares Index

TASI.SA

0.00

MOSCOW, May 4 (Reuters) - Saudi Arabia's state oil producer Saudi Aramco 2222.SE has held official selling prices steady for liquefied petroleum gas in May, while Algeria's Sonatrach has cut them by 2% to 18% due to higher global supply and weaker demand, traders said on Monday.

Saudi Aramco's May OSPs were stable at $750 per metric ton for propane PRO-OFFCL-SA and at $800 per ton for butane BUT-OFFCL-SA.

Propane and butane are types of LPG with different boiling points. LPG is mainly used as fuel for cars, heating and as a feedstock for other petrochemicals.

Sonatrach decreased its May OSP for propane by $150 a ton to $700 PRO-OFFCL-DZ and for butane by $20 a ton to $880 BUT-OFFCL-DZ.

Saudi Aramco's OSPs are used as a reference for contracts to supply LPG from the Middle East to the Asia-Pacific region.

Sonatrach's OSPs are used as benchmarks for the Mediterranean and Black Sea region, including Turkey.


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