Monday, July 13, 2020

Petronas sells Bunga Kekwa crude at higher premium

November 1, 2019

© Ilona / Adobe Stock

Malaysia's Petroliam Nasional Bhd, or Petronas, has sold one cargo of December-loading Bunga Kekwa crude at a premium of around $6.50 a barrel to dated Brent via a spot tender, two trade sources said on Friday.

The buyer was a trader, but the cargo will likely go to a Thai refinery.

The cargo was offered to load over Dec. 23-29.

Spot premiums for December-loading regional crude cargoes have shot up as Asian buyers snapped up short-haul supplies after freight rates jumped.

Prior to this, Vietnam's PV Oil sold one cargo of October-loading Bunga Kekwa crude at a premium of close to $4 a barrel to dated Brent.

(Reporting By Shu Zhang; Editing by Shounak Dasgupta)

Related News