Vietnam Sells Ca Ngu Vang Crude Oil Cargo for February Loading

By Christian Schmollinger

Dec. 19 (Bloomberg) -- PV Oil Co., Vietnam’s state-owned oil marketing company, sold a cargo of Ca Ngu Vang crude oil for loading in February to Royal Dutch Shell Plc, said a trader who submitted an offer for the cargo. A company official, who asked to remain unidentified citing company policy, confirmed the price. Ca Ngu Vang means “golden tuna” in Vietnamese.

Details of the sale are as follows:

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Crude:       Ca Ngu Vang
Loading:     February
Buyer:       Shell
Quantity:    300,000 to 500,000 barrels
Price:       Premium of $1.10 a barrel to the average of the
            Platts/APPI Minas price**
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** Average Minas crude price of Platts and Asia Pacific Petroleum Index.

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