Karachi August 22 2021: Pakistan State Oil (PSO) received one bid each for two of its RLNG cargoes required during third and fourth week of September 2021.
Qatar Petroleum offered RLNG spot cargo for the date of 16th-17th September 2021 at Brent slope of 34.6668 percent while Vitol placed bid for 26th-27th September 2021 at Brent slope of 24.5456 percent.
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Both of these were selected as lowest bids for each delivery period. For the current month PSO procured one spot cargo at Brent slope of 22.1311 percent that translate into RLNG price of USD 15.9272 per mmbtu based on last three month Brent average of USD 71.9675, as per documents available with Augaf.
As per the terms and condition of the bid document, PSO reserves the right to award or scrap the cargo based on requirement.