Petronas sets February Malaysian crude OSP at $5.80/b, down 20 cents/b from Jan

Malaysian state-owned oil company Petronas has set the February Malaysian Crude Oil official selling price differential at a premium of $5.80/b to Platts Dated Brent crude assessments, down 20 cents/b from January, the company said in a notice Jan. 28.

Petronas has also adjusted the price differential of its secondary crude grades to its main basket of crude grades.

The Tapis differential to the MCO OSP in February was set at a discount of $1.47/b, down from a discount of $1.29/b set for January.

Bintulu was set at a discount of 86 cents/b to the MCO OSP for February-loading cargoes, down from a discount of 72 cents/b set for January-loading cargoes.

Dulang and Cendor were set at premiums of 46 cents/b and 38 cents/b, respectively, to the MCO OSP for February-loading cargoes, compared with premiums of 39 cents/b and 36 cents/b to the MCO OSP for January.

The MCO OSP differential takes into account a number of factors such as the average premium or discount to the Platts Dated Brent crude assessments achieved in physical spot sales of Labuan, Miri Light, Kikeh and Kimanis loading in the month.

Petronas also takes into consideration the assessments of those grades during a specific time period by price information providers such as S&P Global Platts, RIM and Argus.

It also considers its buyers' views on trades and any recommendations they make on the value of the crude grades.

Malaysia's crude OSPs:

(Unit: $/b)

Source: Petronas