BP (NYSE:BP) Gets 360,000 Ton Gasoline Order from Aramco

Saudi state oil company Aramco has reportedly made a deal with BP (NYSE:BP) and Lukoil to acquire up to 360,000 tons of gasoline from the two companies.

The deal is so good that it has raised some eyebrows, as Aramco will acquire 95 octane at a price of $15 to $16 and 91 octane from $5 to $6 over the benchmark Mediterranean quote.

Time parameters of the deal are from January to June.

Also included in the deal is an option to acquire 95 octane at $2 to $2.10 over the Singapore benchmark quotes and 91 octane at a premium of $1.90 to $2 over the Singapore benchmark.