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Japan's Mitsui & Co has sold its first cargo of New Zealand's Tui crude cargo oil, expected to come on stream next month, a trading source said yesterday.
The Japanese trading house sold a 300,000-barrel cargo of the light sweet grade recently at an unspecified price linked to APPI Tapis quotes, the source said.
The buyer's identity was not available. Mitsui is the sole marketer of Tui crude. Production from the field is set to reach 50,000 barrels a day when fully onstream.
