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China’s Rongsheng Petchem buys Canadian AWB crude for Sept arrival, sources say

June 25, 2024 2:17 AM
Reuters


Chinese refiner Rongsheng Petrochemical has bought two 550,000-barrel cargoes of Canadian Access Western Blend (AWB) crude via the recently expanded Trans Mountain pipeline (TMX) for September delivery, trade sources said on Tuesday.

The cargoes were sold by Macquarie at a discount of $6-$7 a barrel to ICE Brent, they added.

AWB is a type of heavy and highly acidic diluted bitumen produced by Canadian Natural Resources and MEG Energy.

Rongsheng bought its first cargo from the TMX pipeline this month.

(Reporting by Florence Tan Editing by David Goodman )

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