SINGAPORE: The Asia Pacific crude oil market remained strong on Monday on the back of firm demand and expectation of lower exports from Iran, industry sources said.
MALAYSIA
A supertanker carrying the first crude oil cargo for a refinery joint-venture project between Malaysia's Petronas and Saudi Aramco is discharging on Monday, a Saudi official said.
"The first cargo is discharging out of a VLCC," Aramco Trading Company (ATC) President and Chief Executive Ibrahim Al-Buainain said at the Asia Pacific Petroleum Conference (APPEC).
The very large crude carrier (VLCC) Navarin carrying 1 million barrels each of Saudi Arab Medium crude and Iraqi Basra Light crude arrived at Malaysia on Sept. 21 and is now moored off the Pengerang oil terminal, according to trade sources and shipping data on Thomson Reuters Eikon.
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