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UNIPEC Buys 1.4 mln barrels of Masila Crude

Source: Yemen News Agency (Saba) 12/7/2014, 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 was made during the committee's meeting headed by Prime Minister Khaled Bahah to endorse Masila and Marib crude oil sales of February 2015, with estimated quantity reaches 2.8 million barrels.

The Committee endorsed selling the entire quantity of Masila crude for loading in February at a premium of $0.42 a barrel to dated Brent to UNIPEC Company, which has placed the best bid.

The whole quantity of Marib's crude for the same month amounting to 1.4 million barrels was sold to Aden Refinery Company at the dated Brent price (without any discount or rise).

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