State energy major Saudi Aramco has sold several cargoes of ultralight crude oil from its 100bn R1.59-trillion Jafurah gas plant to US majors and an Indian refiner as it prepares to export its first cargo later this month, four trade sources said.
The Jafurah project, estimated to contain 229-trillion cubic feet of raw gas and 75-billion barrels of condensate, is central to Aramcos ambitions to boost its gas output to become a major global natural gas player and to expand its offerings of light crude grades.
US major Chevron has bought two Jafurah condensate cargoes for loading later this month and in March, while Exxon Mobil Corp and Indian Oil Corp IOC purchased cargoes to be lifted next month, the sources said.
