Malaysia resumes exports of Bentara crude after output rises

Petroliam Nasional Bhd (Petronas) and a consortium led by Japan's JXTG Holdings Inc are among the companies interested in buying a stake in India's Bina oil refinery, a source close to the matter said.

SINGAPORE: Malaysia has resumed exports of Bentara crude oil after a hiatus as field upgrading increased oil output from the field, two industry sources said on Tuesday.

Malaysia's state-owned Petroliam Nasional Bhd, or Petronas, is about to finalise a deal to sell 150,000-barrel cargo of Bentara crude for Aug. 15 to 19 loading on Tuesday after selling 110,000 barrels of the grade last month, one of the sources said.

"Before that, the grade was last sold in 2015 as it was from a small field then, but output has increased recently after upgrading (at the field)," the source added.

The field's production is currently at 150,000 barrels per day (bpd), up from 50,000 bpd in 2015, the source said, declining to be named.

Petronas did not immediately reply to an email requesting for comment.

The Bentara field in the Balai Cluster Risk Service Contract area offshore the East Malaysian state of Sarawak achieved its first oil production in May 2014.

Bentara crude oil has a high yield of middle distillate oil products, the source said. - Reuters