Friday, September 17, 2010

BP (NYSE:BP) Acquires More Singapore Cargo

BP (NYSE:BP) has been to single largest buyer of ultra-low sulfur grade in Singapore in 2010, and they've reportedly acquired another cargo today.

The oil giant bought 150,000 barrels of gasoil from Vitol Group, which contained 10 parts per million of sulfur, or 0.001 percent, according to traders.

BP paid $1.60 a barrel over quoted prices for the 0.5 percent sulfur grade as well. They paid that same amount in a deal on Thursday.

The total acquisition by BP in 2010 has been 7.06 million barrels, with 470,000 already in September.

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