VOL. XL

No. 18

5 May 1997

SAUDI ARABIA

LPG Customers Greet Aramco's May Price Cuts WithMuted Enthusiasm

Given the relatively steep discounting seen in Mideast LPG markets recently,Saudi Aramco's term customers can be forgiven if they failed to greet last week's modest contractprice cuts with unbridled enthusiasm. Traders have been offloading product at discounts ofbetween $10 and $20 per ton under Saudi CP in recent weeks, and the reductions - $19/ton on propaneand $15/ton on butane - simply...