VOL.XL

No.12

24-March-1997

SAUDIARABIA

AramcoFails To Award Gasoline Import Tender As Inter-Product Trading Opportunities Ebb

Highprice submissions kept Saudi Aramco from awarding any of the 1.5mn barrels worthof gasoline it tendered for late last month. The import tender, which was forfour cargoes of gasoline for April delivery into Ras Tanura, closed on 4 Marchbut stipulated a bid validity cut-off date of 12 March. While the tender wasunusual in terms of the amount of product requested,...