PetroRabigh changes distribution channel in Egypt
PetroRabigh is now talked to distribute their materials through Sumitomo and Aramco Trading Company (ATC) starting from November 1st and these companies will be able to trade on a free competition basis without a set price list.
Meanwhile, ATC is reportedly looking to work with different distributors to sell their PetroRabigh cargoes and they will chose between 2-4 different distributors, which they have not decided upon yet. Because of this situation, no offers for PetroRabigh cargoes have surfaced in the market, so far.
On another note, the change in PetroRabigh’s distribution channel has caused disturbances among market players as many fear that the possibility of each trader setting a different price level might create some problems in the market. However, nothing has been cleared regarding the new price levels or the distributors’ possible pricing policy.
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