TABLE-Malaysian crude oil OSP for July falls $5.35 to $61.54/bbl
(For a list of OSPs, click, for Malaysian OSPs, click
)
Aug 3 (Reuters) - The official selling price of a basket of
Malaysian crude oil for July-loading has been set at
$61.54 a barrel, state-owned Petronas said on Monday.
The July price for flagship Labuan fell $5.35 a barrel from
June. The price had reached its lowest in January since April
2009.
Petronas introduced a new benchmark starting January 2014,
based on the spot differentials to dated Brent for three grades
- Labuan, Miri and Kikeh.
As a result of the change, Tapis Blend was dropped as the
key pricing reference to dated Brent due to low liquidity and
falling output.
Kimanis, a new grade that started production in the fourth
quarter of 2014, could be included in the price reference basket
in late-2015 or 2016.
Here are the OSPs for the Malaysian grades:
PETRONAS 2015 TERM PRICES (INCLUDES "P" ADJUSTMENT)
JULY JUNE MAY APRIL
LABUAN $61.54 $66.89 $69.37 $64.76
MIRI $61.54 $66.89 $69.37 $64.76
KIKEH $61.54 $66.89 $69.37 $64.76
TAPIS $59.04 $64.39 $66.87 $62.26
DULANG $61.14 $66.49 $68.97 $64.36
BINTULU $58.74 $64.09 $66.57 $61.96
(Reporting by Jacob Gronholt-Pedersen in Singapore; Editing by
Anand Basu)