Sudan sells May Nile Bld crude, weaker
March 28, 2008 (SINGAPORE) — Sudan sold 2.6 million barrels of May-loading Nile Blend crude via tender at weaker differentials than a month ago, a trader said on Friday.
State oil firm Sudapet sold 1 million barrels of the heavy sweet crude to European trader Trafigura at a discount of $3.60 a barrel to the Minas Indonesia Crude Price (ICP), the trader said.
It also sold two cargoes to Arcadia — 1 million barrels at a discount of $4.98 to the Minas ICP and 600,000 barrels at a $4.45 a barrel discount.
Last month, Sudapet sold 3.2 million barrels of Nile Blend at discounts from $2 to $4 a barrel to the Minas ICP.
Differentials for Nile Blend have come off this month as rising temperatures in North Asia mean there is less demand now for direct-burning crude.
(Reuters)