BP is shipping nearly 3 million barrels of US crude worth around $150million to Asia via one of the world’s longest sea routes, a news report said.
The transfers involve the use of seven tankers and a number of ship-to-ship transfers to reach the planet’s top consumer region, Reuters reported.
Analysts said long distance transfers to Asia would become more common following the Opec deal on output cuts, as refiners in the Far East would be forced to find alternative supplies.
A shipping source told Reuters that BP, which declined to comment on the report, was one of only half a dozen companies who were capable of pulling off such a large shipment to Asia.
The shipments, which were aided by cheap tanker rates, were expected to take four months to complete.
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