The Supreme Committee on Crude Oil Marketing on Sunday approved selling
1.3 million barrels of Masila crude oil to Unipec Petroleum Company.
The approval of Unipec purchase of April Masila crude made during the
committee's meeting chaired by Prime Minister and the Committee's head
Mohammed Salem Basindwa to endorse the Masila, Marib, and Shabwa crude
oil sales of April 2014, with estimated quantity reaches 3.1 million
barrels.
It endorsed selling the entire allotment of Masila crude
oil for loading in April 2014 at a premium of $2.82 a barrel to dated
Brent to Unipec Company, which has placed the best bid.
The
committee sold the whole quantity of Shabwa crude oil, 200,000 barrels,
for loading in the coming April at a discount of $3.2 a barrel to dated
Brent, which was the best price offer by Gunvor oil group.
The
Block 4 in Shabwa produces more or less 150 barrels daily accumulated in
the central unit. The produced oil is only sold when it reaches
exportable quantity.
Concerning Marib's crude, the committee
approved selling the total quantity for the same month amounting to 1.6
million barrels to Aden Refinery Company at the dated Brent price
(without any discount or rise).
AF
Saba