Sudan issues new tender for Nile blend crude
May 20, 2009 (LONDON) – Sudan has issued a new tender to sell 1.2 million barrels of heavy sweet Nile Blend crude for July loading, traders told Reuters yesterday.
The tender for the two 600,000-barrel cargoes closes on Thursday, the trader added.
Last month, state oil firm Sudapet sold via tender a total of 2.6 million barrels of Nile Blend for loading in June at discounts from around $4.40 to $5.10 a barrel to the Minas Indonesia Crude Price.
Minas, the benchmark for heavy sweet crudes sold in Asia, such as Nile Blend, normally trades below light sweet Brent crude, except at times of acute power shortages in Japan.
The Greater Nile project which produces this heavy sweet, high-quality, Nile Blend crude has been experiencing diminishing productivity lately from 325,000 barrels per day (bpd) to 200,000.
(ST)
Covert
Sudan issues new tender for Nile blend crude
The information doesn’t make any sense to the public when you only disclose the discount and not the original price of the barrel.
You should go back to the drawing board and learn how to notify the public with the data that make sense.
Have fun with oil money and make sure you save them for your children, bear in mind every dog has its own day.