PV Oil Co., Vietnam’s state-owned oil-marketing company, offered to sell two cargoes of Chim Sau crude for loading in May totaling 550,000 barrels, said two traders, declining to be identified because the information is confidential.
Details of the offer are as follows:
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Crude: Chim Sao (Vietnam)
Loading: May 16 to May 20 - 250,000 barrels
May 25 to May 29 - 300,000 barrels
Pricing: Dated Brent
Port: Chim Sao Marine Terminal
Bids Due: April 3, 1 p.m. Hanoi time
Validity: April 5
PV Oil Co, also sold four cargoes of Te Giac Trang crude for May and June loading at premiums of $6.20 to $7.20 a barrel more than benchmark dated Brent, according to two traders who asked not to be identified because the information is confidential.
The premiums for the cargoes are lower than the $8.50 to $8.75 barrel range paid by Royal Dutch Shell Plc (RDSA) for April loading.
Details of the deals are as follows:
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Crude: Te Giac Trang (Vietnam)
Price: Premium of $6.20 to $7.20 a barrel to dated Brent.
Quantity: 4 x 300,000 barrels
Loading: May 3-9, May 12-18, May 21-27, May 30-June 5
Bloomberg.com
