Sunday, August 7, 2011

Yemen approves October crude oil sales

SANA'A, Aug. 07 (Saba) - The Supreme Committee on Crude Oil Marketing approved on Sunday the crude oil sales for October 2011, at a total quantity of 5 million barrels.
The committee headed by Finance Minister No'aman al-Suhaybi decided to sell the full amount of Masila crude oil estimated at 3 million barrels to Arcadia Company at 93c a barrel below Dated Brent.
Regarding Marib crude oil, the committee approved the selling of the total quantity of October 2011 amounting to 2 million barrels to Aden Refinery Company at the dated Brent price without any discount.
Furthermore, the committee approved selling the Marib crude oil of August and September estimated to 2.7 and 1.9 million barrels respectively to Aden Refinery Company according to the accepted mechanism and at the dated Brent price.

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