Dateline 2013-07-10:
ExxonMobil’s Tapis enhanced oil recovery, or EOR, project, which will help sustain the current production level of Malaysia’s Tapis blend crude, is expected to start up by the end of 2013, a spokeswoman with the oil major’s Malaysian subsidiary said late Tuesday.
The spokeswoman declined to disclose the current production level of the light sweet crude, but market sources have pegged it at 150,000 b/d.
Tapis blend has an API gravity of 45 and 0.03% sulfur content and is mainly used by Petronas at its own refineries. Current spot availability is around 300,000-600,000 barrels/month, down from 1.2 million barrels previously.
…
