Gulf Oil and Gas accountACCOUNT

Tap and Mubadala Sign New Offtake Agreement for Manora Oil Field

Source: www.gulfoilandgas.com 12/14/2018, Location: Asia

Tap Oil Limited has announced that a new offtake agreement has been signed in relation to the marketing of crude from the Manora oil field, offshore Thailand, at a slightly improved price premium to current arrangements.

Chris Newton, Tapís Executive Chairman, said that ďManoraís higher crude value reflects increasing market recognition for Manora crude and a structural change in the oil market being driven by the International Maritime Organization which will enforce a lower sulphur content cap on fuel for shipping by 2020. Manoraís sweet low sulphur crude is in higher demand for blending purposes by customers in Asia.Ē

The Manora oil field Operator and Tapís wholly owned subsidiary, Tap Energy (Thailand) Pty Ltd (Sellers) have secured a crude offtake agreement with PTT Public Company Limited (for domestic Thailand sales) and PTT International Trading Pte Ltd (for international sales) (Buyer) for 100% of the Sellerís entitlement to Manora crude oil produced in 2019. Offtake will be up to a maximum, at the Sellerís discretion of 300,000 barrels in each month of lifting at a price of Platts Dubai plus a premium in line with improved oil market conditions.

This agreement will take effect from 1 January 2019 and has a 12 month term.

Crude Oil News in Thailand >>

Russia >>  6/5/2019 - Russiaís SOCAR ENERGORESURS LLC has purchased an 80% stake in Antipinsky Oil Refinery. Its participants are a group of investors and Sberbank. The joi...

Related Categories: Agents, Anti-foaming  Aromatic Solvents  Butene  Cleaning  Corrosion Inhibiting  Crude Oil  Diesel Fuel  Ethylene  Fluids Drilling, Completion, Workover & Stimulation  Fluids/Chemicals  Fracturing Sand  Fuel oil  Gasoline (Lead free)  General  Grout  Jet fuel  Kerosene. Domestic use  Lubricants, Oils & Greases  Nitrogen  Oil Treating & Refining  Polyethylene  Polyvinyl chloride  Propane  Sand, Sandblast  Summer Diesel  Surfactants 

Related Articles: Aromatic Solvents  Butene  Cleaning  Corrosion Inhibiting  Crude Oil  Diesel Fuel  Ethylene  Fluids Drilling, Completion, Workover & Stimulation  Fluids/Chemicals  Fracturing Sand  Fuel oil  Gasoline (Lead free)  General  Jet fuel  Kerosene. Domestic use  Lubricants, Oils & Greases  Nitrogen  Oil Treating & Refining  Polyethylene  Polyvinyl chloride  Propane  Sand, Sandblast  Surfactants 


Thailand Oil & Gas 1 >>  2 | 3 |

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.