Qatari state-owned QatarEnergy (QE) published its official formula prices for September-loading crude exports, raising prices for both grades from August.
QE lifted the September price for Qatar Land by 75¢/bl from August, pricing the light sour grade at 35¢/bl premium to the average of Dubai assessments. September-loading Qatar Marine was priced higher by 45¢/bl from the previous month, at a 60¢/bl premium against Dubai. The latest price hikes narrows the premium between medium sour Qatar Marine against light sour Qatar Land to 25¢/bl, the lowest since May.
QE's price increases are higher compared to other Mideast Gulf producers. Saudi Arabia's state-controlled Saudi Aramco raised September prices to Asia-Pacific by 10-20¢/bl from August, lower than what refiners expected. Abu Dhabi's Adnoc raised the September price of its medium sour Upper Zakum by 5¢/bl on the month.
| Qatari crude official formula prices | ($/bl) | |||
| Grade | Basis | September | August | ± |
| Qatar Land | avg Dubai | 0.35 | -0.40 | 0.75 |
| Qatar Marine | avg Dubai | 0.60 | 0.15 | 0.45 |
| Source: QE |
