BP PLC swept up 1.5mn barrels of Qatari condensate loading in April, a rare move for the oil major, three traders that participate in the market told Reuters.
The company bought two 500,000 barrel of cargoes of deodorised field condensate (DFC) from Qatar’s state oil marketer Tasweeq in a tender and another similar-sized cargo before that, they said.
The cargoes were priced between $3.50 and $3.90 a barrel above Dubai quotes, the traders said.
It was not immediately clear where BP intends to re-sell the cargoes, but the traders said they may head out of Asia as there is no demand here.
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