Bloomberg News

Vietnam’s PV Oil Said to Sell Chim Sao Crude at $6 to $7 Premium

June 18, 2012

PV Oil Corp., Vietnam’s state-run oil-marketing company, sold as much as 900,000 barrels of Chim Sao crude at a premium of $6 to $7 a barrel more than benchmark dated Brent, said two traders who participate in the market, asking not to be identified because the information is confidential.

Premiums for August cargoes are lower than July loadings. PV Oil last month sold three shipments for July at premiums of $8 to $8.10 a barrel, four traders said May 23.

Details of the deal are as follows:

------------------------------------------------------------
Crude:       Chim Sao (Vietnam)
Price:       Premium of about $6 to $7 to dated Brent
Buyer:       Unknown
Quantity:    3 x 300,000 barrels
Loading:     Aug. 7-11, Aug. 17-21, Aug. 26-30
------------------------------------------------------------

To contact the reporters on this story: Ramsey Al-Rikabi in Singapore at ralrikabi@bloomberg.net; Christian Schmollinger in Singapore at christian.s@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net


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