Petronas Sets Tapis Oil Price Factor at Record High
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Petroliam Nasional Bhd., Malaysia’s state oil and gas company, increased a price-adjustment factor for its benchmark Tapis crude to a record for a second month.
Petronas, as the Kuala Lumpur-based company is known, raised the factor to $4.20 a barrel for October, up 10 cents from September, said an official today, asking not to be identified because of corporate policy. Last year, the adjustment factor averaged $2.48.