CHENNAI: Qatar International Petroleum Marketing Co, or Tasweeq, sold two grades of condensate for June loading at sharply weaker differentials compared with the previous month's cargoes, industry sources said on Friday.
The producer sold deodorised field condensate (DFC) at a premium of 0-20 cents per barrel to Dubai quotes, down from $0.80-$1.00 per barrel premium at which it sold May cargoes.
It sold low sulphur condensate (LSC) at 60-80 cents per barrel discount to Dubai, sources said, compared with a 20-40 cents per barrel premium for May cargoes.
Traders said the weakness may be a result of the sharp drop in naphtha.
Royal Dutch Shell, Exxon Mobil, South Korea's SK Energy, and India's Reliance Industries Ltd and Essar group were the likely buyers, they added. Tasweeq sold about six or seven DFC cargoes and four or five LSC cargoes. The deals could not be independently verified.
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