Thai PTT Said to Buy Saharan Blend Oil for January DeliveryRamsey Al-Rikabi and Laura Hurst
Thailand’s PTT Pcl bought via tender 1 million barrels of Algerian Saharan Blend crude from BP Plc for Jan. 1 to Jan. 5 delivery, according to two people who participate in the market.
The cargo traded at a premium of about $5 a barrel to Dated Brent, the people said, asking not to be identified because they aren’t authorized to speak to the media.
It will be shipped to IRPC Pcl’s 215,000 barrel-a-day Rayong refinery. State-owned PTT holds a 38.5 percent stake in the refiner and petrochemical maker, the unit’s website shows.