Japan's METI sells Kuwaiti Khafji crude from reserves

  • Reuters
  • Commodities News
Japan's METI sells Kuwaiti Khafji crude from reserves
Credit: © Reuters.

SINGAPORE, June 11 (Reuters) -

* Japan's METI has sold 270,000 kilolitres (1.7 million barrels) of Kuwaiti heavy crude Khafji for sale from its strategic petroleum reserves (SPR), trade sources said on Tuesday

* The cargo was sold to Japanese trading company Marubeni Corp 8002.T at a premium of about 11 cents a barrel to the grade's official selling price (OSP), they said

* The cargo will load between July 25 and Sept. 30 from the Shibushi SPR in Kagoshima

* Marubeni may sell the cargo to an end-user in South Korea and India as Japan's demand is low due to refinery maintenance, one of the sources said

* Marubeni could not be immediately reached for comment

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