Saudi Arabia's Aramco Trading offers diesel for July

Aramco Trading Company, a subsidiary of oil giant Saudi Aramco, has offered 2.1 million barrels of diesel for loading in late July, tender documents showed on Tuesday.

The company has offered two cargoes of 700,000 barrels each of 10ppm sulphur diesel for loading over July 29 and July 31 in a tender that closes on July 15 and is valid until July 16.

It has also offered 700,000 barrels of the fuel for loading on July 25 in a separate tender that closed on July 13 and is valid until July 14.

All three cargoes are for loading from Yanbu and will be loaded from the new Yanbu Aramco Sinopec Refining Co (Yasref), a joint venture between Saudi Aramco and China Petrochemical Corp (Sinopec).

Yasref reached full capacity in late June and is expected to step up diesel and gasoline exports. Sinopec's trading arm Unipec has already been offering spot gasoline from the refinery, a Singapore-based trader said.

The first on-specification diesel cargo was exported earlier this year. The refinery aims to target Europe and Africa as destinations for its diesel shipments, traders have said.