Arcadia Petroleum buys 2 million barrels of Yemen's May oil
The Source: Mukalla/Hadramoutinfo/Saba.net - [10/March/2013]
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The Supreme Committee on Crude Oil Marketing on Sunday approved selling 2
million barrels of Masila crude oil of May to Arcadia Petroleum
Company. The approval made during the committee's meeting chaired by Prime
Minister Mohammed Salem Basindwa to endorse the crude oil sales of May
2013, estimated to be 4 million barrels.
The committee's agreed
to sell the 2 million barrels, out of 2.1 million, of Masila oil to
Arcadia Company that has placed the best bid worth 95 cents a barrel
plus dated Brent. It also approved rescheduling the sale of the
remaining quantity (100,000 barrels) for June 2013.
Moreover, the
committee approved selling the total quantity of Marib crude oil for
the same month amounting to 1.9 million barrels to Aden Refinery Company
at the dated Brent price (without any discount or rise).
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