Qatar sells oil with the largest two-year premium for crude

Qatar sells oil with the largest two-year premium for crude

Qatar continues to expand immediate sales of Shaheen oil field, backed by a discount on other crude sources such as Dubai crude, so that it can be marketed under the weight of the high cost of transporting Qatari crude since the Arab boycott of Doha. Qatar Petroleum is selling Al Shaheen crude for July, with an average premium of $ 1.20 a barrel above Dubai’s offer, the largest in more than two years, three trading sources said on Thursday. Middle East oil subsidies are supported by the summer peak season in Asia as well as concerns that US sanctions will disrupt Iran’s oil supplies. The sources said Shell bought three of the four Shahin shipments, while JXT bought one. They explained that Qatar Petroleum offered condensate as an option to buyers of Shahin crude but did not buy any quantity. Qatar Petroleum last month sold Shahin crude for June at a premium of 85 to 90 cents a barrel above Dubai’s prices. Medhat Yousef, former vice president of Egypt’s General Petroleum Corporation, told Al Ain news portal that Qatar faces difficulties in marketing the Shahin field, which is evident in its failure to rely on the signing of unusually long supply contracts in the oil sector. And natural gas. He pointed out that they resort to the signing of contracts almost every month to market crude, specifically in East Asia, as Shaheen ore requires certain refineries and the return of crude oil revenues from competing materials in the region in the UAE, Saudi Arabia and Iran. He added that the closure of the territorial waters of the neighboring countries of Qatar, specifically Saudi Arabia and the UAE led to an increase in the cost of shipping Qatari oil, and from here international customers invested this point to pressure the Qatari authorities to obtain good discount premiums, QP is expected to continue to expand the immediate shipments supported by the discount to discharge Surplus production. Qatar has sold two million barrels of condensate to South Korean buyers by an immediate tender, traders said today. Hyundai Oil-Bank bought 1 million barrels of odorless field condensates for more than $ 4.50 a barrel above Dubai’s offered prices, while Hanuha Total Petrochemicals bought 1 million barrels of low-sulfur condensate at a price of $ 3.50 to $ 3.75 a barrel above Dubai’s prices. The bonuses are similar to June’s load sales last month. Japan, South Korea and India are Qatar’s biggest customers. The global LNG market relies on long-term bilateral contracts for years, but the availability of new supplies has led to oversupply of customers that has led to greater interest in “instant” contracts. News News: Qatar sells oil with the largest two-year surplus for crude disposal – You can view the original news source from the following link: Eye The site of the unit disclaims its full responsibility for the contents of any news, but the responsibility rests with the original publisher of the news.

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