BPMIGAS opens tender to sell 500,000 barrels of crude

Upstream oil, gas authority BPMIGAS is inviting tender to sell 300,000 barrels of Belanak and 200,000 barrels of Duri crude, which are part of government?s take.

BPMIGAS spokesman Amir Hamzah was quoted by Investor Daily as saying that the tender would be closed on Thursday, adding that the crude would be delivered in August and September this year.

Thus far, he said, 56 prospective buyers had submitted their offers and the crude would be sold to highest bidder. (*)