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Aramco Trading sells Khafji crude to Chinese, Korean refiners, traders say

By Reuters News

SINGAPORE, Nov 13 (Reuters) - Aramco Trading has sold about 7 million barrels of Khafji crude to refiners in China and South Korea in a tender closed on Wednesday, traders said.

Following are some details of the tender result:

  • China's PetroChina, Shenghong Petrochemical and Dongming Petrochemical each bought 2 million barrels, they said

  • A South Korean refiner bought 1 million barrels for February delivery at a premium of about $3-$4 a barrel to January Dubai quotes

  • Aramco Trading Singapore offered the crude for loading via ship-to-ship (STS) transfers off Fujairah in the UAE in December and January, with delivery options from December through February

  • Cargoes sold on an STS basis fetched a discount of about $5 a barrel to Dubai benchmarks, the traders said

  • The companies typically do not comment on their commercial trading activity

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