(For a list of OSPs, click, for Malaysian OSPs, click
)
SINGAPORE, June 1 (Reuters) – The official selling price of
a basket of Malaysian crude oil for May-loading has
been set at $ 50.88 a barrel, the highest since October, a trade
source with knowledge of the matter said on Wednesday.
The May price for flagship Labuan rose $ 5.40 a barrel.
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 2016.
Here are the OSPs for the Malaysian grades:
PETRONAS 2016 TERM PRICES (INCLUDES “P” ADJUSTMENT)
MAY APRIL MARCH FEB
LABUAN 50.88 45.48 $ 42.79 $ 37.08
MIRI 50.88 45.48 $ 42.79 $ 37.08
KIKEH 50.88 45.48 $ 42.79 $ 37.08
TAPIS 48.68 43.28 $ 40.59 $ 34.88
DULANG 50.48 45.08 $ 42.39 $ 36.68
BINTULU 48.38 42.98 $ 40.29 $ 34.58
(Reporting by Florence Tan; Editing by Subhranshu Sahu)
