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Asia Crude-Petrochina sells August Basra Light at sharp discount
July 25, 2012 / 10:32 AM / 5 years ago

Asia Crude-Petrochina sells August Basra Light at sharp discount

SINGAPORE, July 25 (Reuters) - PetroChina Co Ltd , China’s second-largest oil refiner, sold one cargo of Basra Light for late-August loading at a sharp discount, traders said on Wednesday.

The producer sold the cargo at a discount of about $1 per barrel to the official selling price, they said.

That’s much lower than the 10-20 cents per barrel discount paid by Taiwanese refiner Formosa Petrochemicals Ltd for a September-loading cargo earlier this month.

The buyer was probably Indian refiner HPCL-Mittal Energy Ltd. The deal could not be verified. (Reporting by Ramya Venugopal and Florence Tan; Editing by Prateek Chatterjee)

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