Consistent supply and price competitiveness
Two other energy firms received formal authorization earlier this year to sell U.S. condensate abroad and shipped cargoes to customers in Japan and South Korea.
South Korea's GS Caltex and Japan's Cosmo Oil Co were the first Asian refiners to buy U.S. condensate after the United States relaxed a 40-year general ban on crude exports.
Refiners in Asia, though, have so far been sceptical about making further commitments to buy U.S. condensate, saying sellers could not guarantee a steady supply and that prices were not competitive compared with Qatari shipments.
"With no guarantee over consistent supply and price competitiveness, I don't think we will have a direct business with (exporters)," a source with a South Korean refiner said.
Traders and industry sources said BHP Billiton had sold the 650,000-barrel cargo to Vitol. The Swiss-based trading giant would most likely not ship the cargo to Asia, although the final destination of the cargo was unclear, they said. It was also unclear when the cargo would be loaded.
"Honestly, I didn't believe the news when I saw it," said a Singapore-based trader, commenting on BHP's plans.