Singapore: The state oil firm of the Republic of Congo has opened an oil marketing office in Singapore as it targets Southeast Asian buyers for crude output due to come onstream next year, Reuters has reported.
"The US market is no longer a real option for us and European demand is still affected by the economic crisis, so Asia is really our main market now," said Cedric Okiorina, head of trading and operations at Societe Nationale des Petroles du Congo (SNPC).
He said SNPC will also target direct sales to end-users in Indonesia, Thailand and Vietnam through the Singapore office.
Around 90% of Congo's crude exports are already shipped to Asia, with China as the top buyer of its main export grades, Djeno, N'Kossa and Yombo. [23/01/15]
