Petronas drops March crude price factor to US$4.05/bbl


(March 13): * State oil firm Petronas has set the price factor for Malaysian Crude Oil (MCO) for March at US$4.05 per barrel, down 15 cents from the previous month, the company said on Tuesday

* The monthly price factor is added to the average of Platts’ dated prices published in the month to derive the Malaysian crude official selling price (OSP)

* Petronas changed its OSP mechanism effective 2017, basing its benchmark price on a basket of four Malaysian crude grades Labuan, Miri Light, Kikeh and Kimanis

Source: The Edge

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