SINGAPORE: Malaysia’s Petronas sold a new grade in the Asia-Pacific crude market, traders said on Wednesday, while spot premiums for other Malaysian grades remained firm.
MALAYSIA: Petronas has sold the first ever cargo of Ophir Light crude for loading in December to a trading company, trade sources said.
The 200,000-barrel cargo will load over Dec. 8 to 14 and was sold via a tender, the sources said.
Petronas may soon offer a second cargo loading in December, one of the sources said.
With a production of about 6,000 barrels per day, the crude has an API gravity of 46 to 47 degrees and a sulphur content of about 0.07 percent.
The Ophir field, located offshore Terengganu, Malaysia, northeast of peninsular Malaysia, is developed by Ophir Production Sdn Bhd (OPSB) under a Risk Service Contract, according to Octanex’s website. Octanex owns 50 percent of OPSB.
OXX Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
