November
17, 2003
PDVSA
price to determine 2004 orimulsion imports: China
CNPC
(Dow
Jones Newswires)- "China National
Petroleum Corp., China's largest oil and gas company,
said the volume of its imports in 2004 of Venezuela's
benchmark Orimulsion fuel oil will depend on the
price PDVSA offers.
'The
volume depends on the price', a CNPC official
told Dow Jones Newswires. Import price talks will
start early next year after the contract for 2003
ends in the first quarter of 2004, the official
said. Under the current contract, CNPC will import
between 1 million and 1.2 million metric tons
of Orimulsion this year for power generation in
southern and eastern China. The official said
the complicated price formula is working out to
an average price slightly above $40/ton, including
freight.
