VOL. XLVII

No 10

08-March-2004

OIL PRICES

Saudi LPG Prices Reduced As Asian Netbacks Collapse

Saudi Aramco and Kuwait Petroleum Corporation (KPC) announced their March LPG contract formulas to customers on 29 February, reducing the price of both propane and butane by $65/ton, so that both now stand at $265/ton. The price reduction was a response to weak Asian spot market prices for LPG in February, caused by weakening demand as the end of the winter heating season approached, and ample supplies as...