Asia Crude-Qatar sells term al Rayyan to Japan

Reuters
1 Min Read

TOKYO: State-owned Qatar Petroleum (QP) has sold six cargoes of its heavy al Rayyan crude to a Japanese trading house, with 600,000 barrels to be shipped every two months from August 2010 to July 2011, a trader said on Friday.

The deal could not be confirmed, but the price was seen at a discount to Saudi Arabia’s Arab Heavy crude, the trader said.

QP is believed to have awarded a similar tender to a South Korean refiner for volumes to be lifted between August 2009 and July 2010.

The al Rayyan oilfield is believed to produce around 10,000 barrels per day.

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