Qatar’s Tasweeq awards Sept Al Shaheen tender at softer level

18 July 2013 15:32  [Source: ICIS news]

SINGAPORE (ICIS)--Tasweeq, the Qatari state oil marketer, has awarded a tender that offered seven 600,000 bbl cargoes of September Al Shaheen crude oil at a softer level, industry sources said on Thursday.

The September Al Shaheen cargoes were sold at a weaker price level around Dubai quotes plus $0.60-1.20/bbl FOB (free on board) Al Shaheen, with buying interest focused on more competitively priced light sour grades. Buyers of the September Al Shaheen cargoes included Shell, Exxon, Reliance and TonenGeneral.

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 the August Al Shaheen cargoes to Exxon, Reliance, TonenGeneral and PTT.

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.

By: James Dennis
+65 6780 4327

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