SINGAPORE, April 8 (Reuters) - Saudi Arabia, the world'slargest oil exporter, is offering up to 400,000 tonnes ofcracked fuel oil for sale from its joint venture refinery withRoyal Dutch Shell in Jubail in May, traders said onMonday.
The residual fuel tender, which was issued by the state oilfirm's trading arm, Aramco Trading, closes on Wednesday withvalidity expiring on Thursday, traders said.
The cargoes are being offered from the 305,000 barrel perday (bpd) Saudi Aramco Shell Refinery Company (SASREF) inJubail, traders said.
The cargo size for each parcel of 180-centistoke beingoffered is between 75,000-80,0000 tonnes, traders said.
The Saudi tender was issued just after buying interestemerged last week in tenders issued by Pakistan, Vietnam andSouth Korea.
Asia's fuel oil margins improved at the end of last week,with the front-month May crack shrinking 79 cents to a discountof $7.98 a barrel to Dubai crude, the narrowest since March 11,according to Reuters calculations.
