Sudan sells crude for May loading to PetroChina, Sojitz

March 26, 2007 (SINGAPORE) — Sudan Petroleum Corp., the country’s state-owned oil company, sold as much as 2.6 million barrels of Nile Blend crude oil for loading in May to China National United Oil Corp. and Japan’s Sojitz Corp., said traders who submitted bids to buy cargoes.

Sudan Petroleum, or Sudapet, sold 1 million barrels of the crude to China National, or Chinaoil, and 1 million barrels to Sojitz, said the traders who asked not to be identified.

Sudapet sold an additional 600,000 barrels of Nile Blend to Arcadia Petroleum Ltd., the traders said.

All three companies paid a discount of around $2.25 a barrel to the price of Indonesia’s Minas crude oil, the traders said.

The crude oil will be loaded from Bashayer Marine Terminal, south of Port Sudan.

Nile Blend crude is produced by the Greater Nile Petroleum Operating Co., in which both Sudan Petroleum and Petroliam Nasional Bhd., Malaysia’s state oil company, hold stakes.

(Bloomberg)