22-06-2018

One Aug Al-Shaheen crude cargo declared during Platts Dubai MOC Thursday

One August-loading cargo of Al-Shaheen crude was declared during the Platts Dubai Market On Close assessment process Thursday.

Unipec declared a 500,000-barrel cargo of Qatar’s Al-Shaheen crude to Shell after Shell bought its 20th August cash Dubai partial cargo from Unipec at $71.24/b.

This is the first crude cargo to be declared during the Platts MOC in June.

Including Thursday’s MOC, a total of 87 Dubai partials have traded since the start of the month, 84 of which are August Dubai partials, and three of which are September Dubai partials.

Platts reflects partial cargoes of crude oil in its physical assessments for Dubai, Oman, Upper Zakum, Al-Shaheen and Murban.

Under the partials mechanism, the seller must declare a full 500,000-barrel cargo of crude oil to the buyer after a total of 20 partials have been traded for the same loading month between the companies.

For Dubai partials, the seller has the option to deliver a Dubai, Oman, Upper Zakum, Al-Shaheen, or Murban cargo with a quality premium, to the buyer.

Source: Platts

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