Size: |
HOME > News > Media Reports >

Aramco commits to 20yr S-Oil supply contract

2012-02-11 19:18 | read(

Aramco commits to 20yr S-Oil supply contract

by Patrick Osgood on Feb 9, 2012

 
The deal will see Aramco supply S-Oil's total 669,000 barrels per day - or two ULCC tanker shipments a week - refining capacity.
The deal will see Aramco supply S-Oil's total 669,000 barrels per day - or two ULCC tanker shipments a week - refining capacity.

Saudi Aramco has committed to a 20-year crude supply deal with South Korea’s S-Oil, according to a Reuters report citing S-Oil.

The deal will see Aramco supply S-Oil’s total 669,000 barrels per day – or two ULCC tanker shipments a week – refining capacity for the length of the contract, and is unusual in a market where one-year supply deals are the norm, the company said.

Pricing was not disclosed.