Petronas declared force majeure on two crude grades — sources


I didn’t know you could do force majare on a grade. 2020 Uni grads, go find a lawyer!

Dateline 2020-12-24, The Edge:

Malaysia’s Petroliam Nasional Bhd (Petronas) has declared force majeure on two crude oil grades following production issues, four trade sources said yesterday.

The disruption to Miri and Cendor crude supplies has reduced Malaysia’s oil exports this month and supported spot prices in the region. 

Miri crude production was reduced after a ship hit an oil production platform off Sarawak in late October, the sources said. 

It was not immediately clear when Miri’s output could return to normal. 

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