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Malaysia’s Petronas Said to Sell Labuan, Penara Oil for June

Petroliam Nasional Bhd., the Malaysian state oil company known as Petronas, sold a cargo of its Penara crude to Royal Dutch Shell Plc and a shipment of Labuan to Exxon Mobil Corp., said two traders who participate in the market, declining to be identified because the information is confidential.

Details of the offers are as follows:

Crude:         Penara (Malaysia)
Price:         Premium in high-$4 range to dated Brent
Buyer:         Shell
Quantity:      300,000 barrels
Pricing:       Dated Brent
Loading:       June 1-7
Crude:         Labuan (Malaysia)
Price:         Premium of about $8.50 to dated Brent
Buyer:         Exxon
Quantity:      300,000 barrels
Loading:       June 17-23

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