Dateline 2011-08-10:
Petroliam Nasional Bhd, Malaysia’s state oil company, reduced a price-adjustment factor for its benchmark Tapis crude for a second month, reflecting a drop in profit for making diesel.
Petronas, as the Kuala Lumpur-based company is known, cut the factor to US$5.90 a barrel for August from US$6.50 for July, an official said today, asking not to be identified because of internal policy. The factor, set at a record for five months through January, averaged US$3.84 last year and 59 cents in 2009.
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Wata - Malaysian Oil and Gas Engineer 