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PV Oil Said to Sell Su Tu Den for Six Months at $6 Premium

April 30 (Bloomberg) -- Vietnam’s state-owned oil marketer PV Oil Co. sold Su Tu Den crude under long-term contracts for the six months from July to December to Mitsubishi Corp., JX Nippon Energy Oil & Energy Corp. and ConocoPhillips, according to four traders who participate in the market who asked not to be identified because the information is confidential.

The cargoes will be sold at a premium of $6 a barrel to benchmark Minas oil.

Su Tu Den sold under the previous contract, from January to June, was priced at a premium of $7.15 a barrel to buyers including Mitsui & Co., Petro Summit Pte., JX Nippon and Mitsubishi, according to traders from those companies.

The details are as follows:

-----------------------------------------------------------
Crude:      Su Tu Den (Vietnam)
Quantity:   Minimum of 200,000 barrels a month
Term:       July to December
Price:      Premium of about $6 a barrel to APPI/Platts Minas
Buyers:     Mitsubishi, JX Nippon, ConocoPhillips
-----------------------------------------------------------

To contact the reporter on this story: Ramsey Al-Rikabi in Singapore at ralrikabi@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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