PV Oil Corp., Vietnam’s state-run oil-marketing company, sold as much as 800,000 barrels of Bach Ho crude at a premium of about $6 a barrel to benchmark Minas oil, said two people with knowledge of the deal, declining to be identified because the information is confidential.
PV Oil also sold three cargoes of Chim Sao crude, totaling 900,000 barrels, at about $8 to $8.10 a barrel above dated Brent to Royal Dutch Shell Plc (RDSA), four people said.
The company traded 300,000 barrels of Bintulu oil at a premium of $6 to $7 a barrel more than the European benchmark price with an oil refining company, said two people with knowledge of the deal.
The details of the deals are as follows:
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Crude: Bach Ho (Vietnam)
Price: Premium of about $6 a barrel to APPI/Platts Minas
Buyer: Unknown
Quantity: As much as 800,000 barrels
Loading: July 1-30
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Crude: Chim Sao (Vietnam)
Price: Premium of about $8 to $8.10 to dated Brent
Buyer: Shell
Quantity: 3 x 300,000 barrels
Loading: July 4-8, July 14-18, July 24-28
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Crude: Bintulu (Malaysia)
Price: Premium of about $6 to $7 to dated Brent
Buyer: Unknown
Quantity: 300,000 barrels
Loading: July 4-5
Source: Bloomberg
