Unipec Buys 2.1 Million Barrels of Yemen's June Crude

Source: Yemen News Agency 4/7/2013, Location: Middle East

The Supreme Committee on Crude Oil Marketing approved selling 2.1 million barrels of Masila crude oil for loading in June to Unipic Petroleum Company.

The approval made during the committee's meeting chaired by Prime Minister Mohammed Salem Basindwa to endorse the crude oil sales of June 2013, with estimated quantity reaches 4.1 million barrels.

Unipic Company, which has placed the best bid, bought 2.1 million barrels out of 2.2 million barrels of Masila crude at a premium of $1.52 a barrel to dated Brent. The committee approved rescheduling the sale of the remaining quantity (100,000 barrels) for July 2013.

Concerning Marib crude oil, the committee approved selling the total quantity for the same month amounting to 1.9 million barrels to Aden Refinery Company at the dated Brent price (without any discount or rise).

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