Friday, October 22, 2010

BP (NYSE:BP) Acquires Cargoes from Conoco (NYSE:COP), Trafigura Beheer BV

BP (NYSE:BP) bought two cargoes, each one including 150,000 barrels of gasoil. The gasoil, which has 10 parts per million of sulfur, will be loading from November 11 to November 15.

Cost for the cargo was $2.10 a barrel premium against prices of gasoil with 0.5 percent sulfur.

BP acquired one cargo from ConocoPhillips (NYSE:COP) and the other from Trafigura Beheer BV.

After oil prices rose this week, the Asian gasoil crack, which is how the processing profit is measured when converting Dubai crude into fuel, dropped.

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