Petronas Raises Tapis Crude Price Factor to a Record

Petroliam Nasional Bhd., Malaysia’s state oil company, increased the price-adjustment factor for its benchmark Tapis crude to a record for a fourth month.

Petronas, as the Kuala Lumpur-based company is known, raised the factor to $7.50 a barrel for December, up 42 percent from $5.30 in November, said an official today, asking not to be identified because of corporate policy. The factor averaged 59 cents last year and $2.48 in 2008.