Oil giant is looking to buy at least for cargoes per month; preferred bidders will be invited to Singapore for further negotiations
State oil company Saudi Aramco is seeking bids for its gas oil term purchases for 2011 and wants to buy at least four cargoes per month, trade sources said on Thursday.
The tender closed on Tuesday but preferred bidders will be invited to Singapore next week for further negotiations, sources said.
Aramco is looking to buy at least four cargoes per month from February to November, one trade source said. He added that it is seeking both 500 ppm and 0.5 gas oil.
The company is likely to import five to six cargoes between February and April on term contracts, another source said, adding that an additional purchase of two to three cargoes per month was on the cards due to refinery maintenance shutdowns during those months.
Aramco was not immediately available for comment.