Vietnam’s PV Oil awards December Ruby crude tender

30 October 2013 14:05  [Source: ICIS news]

SINGAPORE (ICIS)--Vietnamese state oil marketer, PV Oil, has awarded a tender offering a cargo of December-loading Ruby crude to SK Energy at a weaker premium, industry sources said on Wednesday.

The 300,000-barrel Ruby cargo, for loading on 14-20 December, was awarded to the South Korean refiner at around Dated Brent (Dtd) plus $4.00/bbl FOB (free on board) Ruby, sources said.

The tender closed on 24 October and had validity until 25 October, sources added.

Previously, PV Oil awarded a tender offering a 300,000-barrel cargo of Ruby for loading 25-30 November to SK Energy at Dtd plus $6.50/bbl FOB Ruby, sources said.

Ruby is a medium sweet crude with an American Petroleum Institute (API) specific gravity (SG) of around 35.5 and a sulphur content of 0.08%.

The Ruby oilfield is a joint venture between PetroVietnam and Petronas, the Malaysian state-oil company.

Petronas is the operator of the field with an 85% stake, while PetroVietnam holds the remaining 15%.

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

By: James Dennis
+65 6780 4327

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