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Companies & Markets

Petronas sells Feb-loading Labuan crude at highest premium in years: sources

Published Mon, Dec 23, 2019 · 07:01 AM
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[SINGAPORE] Malaysia's state energy company Petronas has sold a cargo of Labuan crude loading in February at the highest premium in years on strong demand for oil produced in the Asia Pacific, several trade sources said on Monday.

The producer sold 300,000 barrels of Labuan crude to Royal Dutch Shell at a premium of about US$9.50 a barrel to dated Brent, they said.

The premium is the highest since June 2011, said one of the sources who tracks Asian oil trades closely.

Petronas and Shell typically do not comment on commercial matters.

REUTERS

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