Thai company buys Sudan’s Dar Blend crude oil
August 16, 2009 (PARIS) — A Thai refinery has bought 600,00 barrels of the Dar Blend crude for September delivery according to Platts Commodity News.
This is believed to be the first purchase by refiner called PTT of the heavy sweet, acidic grade from Sudan according to market sources that noted that the company normally buys light sweet crude and condensate.
PTT won Malaysian Petco’s tender offering the cargo late last week at Dated Brent minus around $6.50/barrel which is lower than the one that Petco got earlier for .30-$7.10/b below Dated Brent.
The Thai refiner’s Dar Blend purchase is a departure from its usual spot buying, which is typically made up of light sweet crude and condensate.
The startup of new, more sophisticated refineries in China and India, designed to run heavy crude oils including acidic grades, and the preference for Dated Brent-linked crudes among some Asian refiners, particularly those with large monthly purchases from West Africa, have helped boost demand for Dar Blend, sources said.
(ST)