Vietnam’s PV Oil awards an August Ruby crude tender

25 June 2013 15:22  [Source: ICIS news]

SINGAPORE (ICIS)--Vietnamese state oil marketer, PV Oil, awarded a tender offering 350,000 bbl of 9-15 August loading Ruby crude oil to Japanese refiner Taiyo Oil, sources said on Tuesday.

PV Oil awarded the Ruby crude tender at around Dated Brent (Dtd) plus $1.00-1.50/bbl FOB (fre on board) Ruby, sources added. The award price was in line with a previous tender from PV Oil for 300,000 bbl of 18-24 July Ruby which was placed with SK Energy at around Dtd plus $1.00-1.50/bbl FOB Ruby.

Ruby is a medium sweet crude with an API of around 35.5 and a sulphur content of 0.08%.

The Ruby oil field is a joint venture between PetroVietnam and Petronas, The Malaysian state oil company. Petronas is the operator of the field and has an 85% stake. PetroVietnam holds the remaining 15%.

The Ruby oilfield includes two wellhead platforms and a floating, processing, storage and offloading (FPSO) vessel.

By: James Dennis
+65 6780 4327

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