Qatar Sells 3.5 Million Barrels of Condensate Oil for October

By Christian Schmollinger

Aug. 20 (Bloomberg) -- Qatar International Petroleum Marketing Co., a state-owned company also called Tasweeq, sold 3.5 million barrels of condensate for October, said three traders who submitted bids for the cargoes.

Details of the company's sales are as follows:

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Product:      Deodorized Field Condensate
Quantity:     500,000 barrels a cargo
Buyers:       Exxon Mobil Corp. x 3 cargoes
             GS Caltex Corp. x 1 cargo
Loading:      October
Price:        Premium of between $1 a barrel and $3 a barrel to
             the price of Dubai crude oil published by pricing
             service Platts.
Port:         Ras Laffan terminal (northern Qatar)
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Product:      Low-Sulfur Condensate
Quantity:     500,000 barrels a cargo
Buyers:       Exxon Mobil x 1 cargo
             Mitsubishi Corp. x 1 cargo
             Emirates National Oil Co. x 1 cargo
Loading:      October
Price:        Discount of between parity and $1 a barrel to the
             price of Dubai crude oil published by pricing
             service Platts.
Port:         Ras Laffan terminal (northern Qatar)
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Condensate is a type of light crude oil produced in association with natural gas and is usually processed into products such as naphtha, a raw material for gasoline and chemicals.

To contact the reporter on this story: Christian Schmollinger in Singapore at christian.s@bloomberg.net.