Qatar Petroleum Sells Al-Shaheen Crude Oil for Loading in June
Qatar Petroleum, the country"s state-owned oil producer, sold 5.4 million barrels of Al-Shaheen crude for loading in June to Exxon Mobil Corp., Royal Dutch Shell Plc, Chevron Corp., Cosmo Oil Co. and Mitsui & Co., said three traders who submitted offers for the cargoes.
Details of the sale are as follows:
Crude: Al-Shaheen from Qatar
Quantity: 600,000 barrels x 9 cargoes
Buyer: Exxon, Shell, Chevron, Cosmo, Mitsui
Price: Discount of between $1.10 and $1.70 a barrel to the
monthly price of benchmark Dubai crude oil as published by pricing service Platts. Average is a discount of about $1.40 a barrel.
Al-Shaheen crude oil has qualities similar to Saudi Arabia"s Arab Medium crude oil. Qatar also exports two other grades, Qatar Marine and Qatar Land, to customers in Asia.