Qatar’s Tasweeq issues Al Shaheen tender for September

12 July 2013 09:32  [Source: ICIS news]

SINGAPORE (ICIS)-- Qatar International Petroleum Marketing (Tasweeq), the state-owned oil marketer, has issued  a tender offering seven 600,000bbl cargoes of Al Shaheen crude oil for September, industry sources said on Friday.

The tender will close on 15 July and bids will have validity until 17 July.

Previously, Tasweeq awarded a tender which offered seven August Al Shaheen cargoes at around Dubai quotes plus $1.10-1.20/bbl (€0.84-0.91/bbl) FOB (free on board) Al Shaheen.  

Tasweeq sold two August Al Shaheen cargoes each to Exxon, Reliance and TonenGeneral, with Thailand’s PTT taking one cargo.

The Al Shaheen oilfield is off the northeast coast of Qatar in the Persian Gulf. The field is operated by Maersk Oil under a production-sharing agreement with state-owned oil company Qatar Petroleum (QP).

Al Shaheen is a medium-heavy high sulphur crude oil, with an API (American Petroleum Institute) gravity of 28.0 degrees and a sulphur content of 2.37% by weight.

According to Tasweeq, current production of Al Shaheen crude oil is around 310,000 bbl/day.

Al Shaheen crude output from the six production installations in the oilfield is lifted to customers via two floating storage offloading (FSO) vessels.

($1 = €0.76)

By: James Dennis
+65 6780 4327

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