LONDON, May 15 (Reuters) – ARA Jet fuel stocks held in independent storage at Europe’s Amsterdam-Rotterdam-Antwerp hub rose by 22 percent in the week to Friday, data from Dutch oil consultant PJK International showed.
Jet fuel stocks rose to 732,000 tonnes, boosted by imports from Kuwait and Saudi Arabia, Patrick Kulsen said.
New refineries such as Satorp in Jubail and Yasref in Yanbu are ramping up and sending more cargoes of jet fuel to Europe as it is not needed locally.
Gasoline stocks dipped slightly to 761,000 tonnes due to exports to West Africa and North America, whilst naphtha stocks declined to 224,000 tonnes on the back of demand from gasoline blenders and petrochemical buyers.
Weekly ARA stocks (in ‘000 tonnes)
|Incoming cargoes||Outgoing cargoes|
|Gasoline||Russia, UK||Mexico, Togo, USA|
|Naphtha||Finland, Russia, USA||None|
|Gasoil||Germany, Latvia, Russia, USA||Algeria, France, Med|
|Fuel oil||Brazil, Finland, France, Lithuania, Russia||One VLCC planned to depart for Singapore on May 16|
|Jet fuel||Kuwait, Saudi Arabia||None|
*COPYRIGHT NOTICE* – any unauthorised use, duplication or disclosure of ARA stocks data is prohibited without prior approval of PJK International B.V.