Tayyim Tender Awarded to Shwartz
MEES understands that the West German oil trading firm Schwartz, bidding onbehalf of the Swiss-based Erin Resources (both Phibro subsidiaries), was awardeda tender for Tayyim crude oil (36.5 API) at a price f.o.b. Banias of DatedBrent minus 56 cents. Two cargoes of around 100,000 tons each were lifted on 21February.
This is expected to be the first and only export contract for Tayyim crude onits own. During 1988, the first...