Qatar’s Tasweeq awards October Al Shaheen tender at stronger level

19 August 2013 14:36 Source:ICIS News

SINGAPORE (ICIS)--Qatar International Petroleum Marketing (Tasweeq), the state-owned oil marketer, has awarded a tender that offered six 600,000bbl cargoes of October Al Shaheen crude oil at a stronger level, industry sources said on Monday.

The October Al Shaheen cargoes were sold at around Dubai quotes plus $1.20-1.80/bbl (€0.90-1.35/bbl) FOB (free on board) Al Shaheen amid buoyant demand from northeast Asian refiners.

Sources said SK Energy purchased three of the Al Shaheen cargoes, while ExxonMobil, TonenGeneral and PTT bought one cargo each. The Al Shaheen cargoes are for loading 6-7 October, 17-18 October, 18-19 October, 21-22 October, 28-29 October and 30-31 October.

Previously, Tasweeq awarded a tender that offered seven September Al Shaheen cargoes at around Dubai quotes plus $0.60-1.20/bbl FOB Al Shaheen. Tasweeq sold the September Al Shaheen cargoes to buyers including Shell, Exxon, Reliance and TonenGeneral.

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 = €0.75)

By James Dennis