Bloomberg News

CNPC Said to Sell Late-August Nile Blend Crude to Chinaoil

August 21, 2012

China National Petroleum Corp. sold 600,000 barrels of Sudan’s Nile Blend crude for loading in late- August to China National United Petroleum Corp., known as Chinaoil, said two traders who participate in the market, asking not to be identified because they aren’t authorized to speak to the media. The cargo traded at a discount of $4.50 to $5 a barrel below benchmark ICP Minas, the people said.

Details of the trade are as follows:

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Crude oil:     Nile Blend
Quantity:      600,000 barrels
Loading:       Aug. 26 to Aug. 28
Buyer:         Chinaoil
Price:         Discount of $4.50 to $5 to ICP Minas crude
Seller:        CNPC
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To contact the reporter on this story: Ramsey Al-Rikabi in Singapore at ralrikabi@bloomberg.net

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


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