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Saudi oil headed to US West Coast from Okinawa storage base

08/29/2011
Eric Watkins Oil Diplomacy Editor Saudi Aramco, which last year accepted oil storage space in Okinawa from the Japanese government, will this month begin to send shipments of oil stored in Japan to the US West Coast. ConocoPhillips has chartered the 600,000-bbl MT Blue Sea to load in Okinawa on Aug. 24, with the oil scheduled to reach Pacific Coast refineries by mid-to-late September. Earlier this month, Aramco raised its official selling prices for light crudes to US customers for September shipments as it increased the prices of its two lightest grades for Asian buyers. Aramco boosted the formula price for Arab Extra Light crude the most among grades to be shipped to the US, raising it...
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