Sudan sells September Dar crude slightly higher
Sudanese oil company, Sudapet today sold two cargoes of September-loading Dar Blend crude via tender at around $9 a barrel below dated Brent.
The government owned firm sold two August-loading cargoes to Chinaoil and FAL at discounts of about $9.30 a barrel to dated Brent.
Oil traders said the Sudanese company on Tuesday sold the two 600,000-barrels lots to FAL Oil Co Ltd for Sept. 19-21 and Sept. 22-24 loading.
The Sharjah based FAL is a major supplier of oil to the Red Sea, the Mediterranean, the Indian Subcontinent, East Africa and occasionally to some regions in the Far East.
Dar Blend crude is heavily discounted because of its high acid content, making it unattractive to most Asian refiners.
Also, U.S. economic sanctions imposed in 1997 against the purchase of Sudanese goods keep many companies away.
PetroChina said today preparing to upgrade, a new refinery in southern Guangxi region to avoid processing Sudanese oil. The move comes after pressures from Washington to clear the New York listed refinery of Sudan’s crude.
(ST)
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