Petronas Raises Tapis Crude Price Factor to a Record
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Petroliam Nasional Bhd., Malaysia’s state oil company, raised a price-adjustment factor for its benchmark Tapis crude to a record for a fifth month as processing profits increased.
Petronas, as the Kuala Lumpur-based company is known, set the factor at $7.80 a barrel for January, up 30 cents, or 4 percent, from December, said an official today, asking not to be identified because of corporate policy. The factor averaged $3.84 last year and 59 cents in 2009.