MPRC applauds Platts’ move towards FOB Straits benchmark


Why isn’t Abang Yazid a Datuk yet?

Dateline 2015-07-07, The Borneo Post:

The Petroleum Resources Corporation (MPRC) has applauded Platts’ recent move to approve four terminals in southern Malaysia as part of the free-on-board (FOB) Straits oil benchmark pricing which is the process of price assessment for refined oil products.

The four terminals are Pasir Gudang, Tanjung Langsat, Pengerang and Tanjung Bin.

In a statement yesterday, MPRC said with the FOB Straits, market participants would have broader options for loading terminals from which to meet an approved FOB Straits bid.

“As a result, all market participants will benefit from a more efficient market with more transparent price discovery,” it said.

Platts is a global energy, petrochemicals and metals information provider with a premier source of benchmark price reference.

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