Exxon Mobil Said to Sell Yanbu Fuel Oil to Vitol at $25 Discount
Wednesday, 01 August 2012 | 14:30
Exxon Mobil Corp. (XOM) sold an 80,000 metric-ton fuel-oil cargo to Vitol Group loading next month in Yanbu, Saudi Arabia, according to three people with knowledge of the transaction.
The cargo was sold at a discount of about $25 a ton below Singapore prices, according to two of the people, who asked not to be identified because the information isn’t public. That compares with a discount of $19 to $20 that Bakri International Energy paid to Exxon for a similar cargo earlier this month, according to data compiled by Bloomberg News.
Details of the transaction are as follow:
Quantity: 80,000 tons
Sulfur: maximum 4%
Price: About $25 a ton discount to Singapore prices
Loading time: around Aug. 10 to Aug. 15
Loading port: Yanbu
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