Petromin Selling Products by Tender Pending Conclusion of Term Contracts

Saudi Arabia's Petromin has recently been selling its export availability of refined products via spot tender on a temporary basis pending the conclusion of term contracts with customers. The signature of the term contracts, which was expected to be finalized by the end of November (MEES, 29 October), has apparently been delayed.

In November Petromin sold around 3mn barrels of products by tender,...