Sudan sells July load of Nile blend crude at stronger price
May 26, 2009 (LONDON) – Sudan managed to quickly sell 1.2 million barrels of heavy sweet Nile Blend crude for July loading, traders told Reuters on Monday.
The traders said that Sudan national oil company (SUDAPET) was bought by European trader Arcadia at a discount of $2.8-$3.2 a barrel to Minas Indonesia Crude Price (ICP) benchmark.
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 by Arcadia as well.
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)
wen de kut-ajok
Sudan sells July load of Nile blend crude at stronger price
This is how Khartuom is laoting our oil, in the eyez of our blind leaders.
Please get changed and stop being bought from now and then.