Unipec Buys1.4 million barrels of Masila

Source: Yemen News Agency 7/6/2013, Location: Middle East

The Supreme Committee on Crude Oil Marketing approved selling 1.4 million barrels of Masila crude oil to Unipec Petroleum Company.

The approval of Unipec purchase made during the committee's meeting chaired by Prime Minister and the Committee's head Mohammed Salem Basindwa to endorse the Masila and Marib crude oil sales of September 2014, with estimated quantity reaches 2.9 million barrels.

It endorsed selling the entire allotment of Masila crude for loading in September at a premium of $0.32 a barrel to dated Brent to Unipec Company, which has placed the best bid.

The Committee sold the whole quantity of Marib's crude for the same month amounting to 1.5 million barrels to Aden Refinery Company at the dated Brent price (without any discount or rise).

For more information about Oil and Gas in Yemen visit Yemen Projects Database

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