Dubai Mercantile Exchange (DME) announced that PETCO has successfully sold 600,000 barrels of Kimanis Light Sweet crude on the “DME Auctions” platform.  PETCO is now the first non-Middle Eastern producer to use the auctions platform

17 participants representing different companies submitted 10 bids during the 2 minutes window, and the 600,000 barrels cargo was awarded at a premium of 4 cents over the floor price set by PETCO