PTT Said to Buy Saharan Blend Crude for February DeliveryRamsey Al-Rikabi and Laura Hurst
Thailand’s PTT Pcl bought 1 million barrels of Algerian Saharan Blend crude via tender for Feb. 1-5 delivery at a premium of about $5.50 a barrel over Dated Brent prices, according to two people who participate in the market. They asked not to be identified because they aren’t authorized to speak to the media.
The cargo 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.