06282016Tue
Last update: Tue, 28 Jun 2016 06am

Markets - Energy

Markets - Energy - Asia

Middle East Crude- Aug-loading grades slip into discounts SINGAPORE: August-loading Middle East crude cargoes slipped on Friday into discounts against their respective official selling prices (OSPs) as weak margins battered demand in Asia.Chinaoil's offers of Upper Zakum at parity to 5 cents above its OSP during the Platts MoC process did not locate a buyer, depressing the grade's differential into a discount, traders said."There are quite a few sellers for Upper Zakum," a trader said.Cash Dubai stayed at a discount to swaps for a second session after Mercuria sold an August Dubai partial to Shell at $44.44 a barrel.A rise in light crude supplies from top exporter Saudi Arabia depressed differentials for similar quality Abu Dhabi grades.Murban was traded at 5-10 cents below its OSP on Friday, traders said.Weakness in the value for competing grade Russian ESPO also weighed on the market.Trafigura sold two ESPO cargoes loading on Aug. 1-5 and 6-11 at premiums of $2 and $2.25 ...

Markets - Energy - Europe

North Sea Crude-Forties diffs fall, dented by unsold barrels LONDON: Forties differentials fell on Thursday to their lowest level since early May, as an overhang of unwanted crude continued to drag on the market. Total once again offered barrels from the Maran Thetis via ship-to-ship transfer (STS) but was unable to find a buyer. The French port and oil refinery strikes are mostly over, following nearly four weeks of disruptions, which should theoretically provide some support for crude diffs. Reuters trade flows data shows ...

Markets - Energy - Europe

Angola launches tender to sell third cargo since shutdown MILAN: Angola's liquefied natural gas (LNG) export plant on Friday launched a tender to sell its third cargo since resuming production after a two-year shut down, trade sources said. The cargo is expected to load on June 21-22, bids are due by June 22 and the tender is valid until June 24, a source said. Vitol bought the first cargo exported by the plant, while the second tender offered for sale via tender has not ...

Markets - Energy - Middle East & Africa

Nigerian stocks at 7-month high following central bank FX reforms LAGOS: Nigerian stocks hit a seven-month high in mid-trades on Friday as domestic investors snapped up shares after the central bank's currency reforms. The main share index rallied 2.33 percent to 29,152 points, lifted by gains in the consumer goods index, which is up 2.4 percent. The central bank has said it will begin market-driven foreign currency trading on Monday, abandoning a 16-month peg against the dollar that has harmed investments and caused the economy ...

Markets - Energy - Asia

Asia Naphtha/Gasoline-Cracks up; low Western naphtha cargoes seen SINGAPORE: Asia's naphtha crack edged up 14 cents and held firm at a two-week high of $53.83 a tonne on Friday, as Western cargoes arriving in Asia were seen at low levels. About 1 million tonnes of naphtha were placed on provisional bookings for July arrival in Asia, similar to volumes fixed for June. These were down from a monthly average of 1.62 million tonnes for January to May arrivals, Reuters data showed. Refiners focusing ...

Markets - Energy - Europe

Russia's Gazprom says gas exports via Nord Stream up 25pc so far in 2016 ST PETERSBURG: Russia's gas giant Gazprom said on Friday that gas exports to Europe via undersea Nord Stream pipeline rose by 25 percent year-on-year to 20 billion cubic metres (bcm) on Jan. 1 - June 16. The annual capacity of Nord Stream's two lines is 55 bcm. Gazprom plans to boost the pipeline capacity to 110 bcm.Copyright Reuters, 2016

Markets - Energy - Europe

Med crude-Urals little changed, Azeri light supported MOSCOW: Urals differentials were little changed on Thursday with no clear understanding on export levels for July so far. A preliminary schedule for Russian Urals was released today showing a slight decrease in exports from Russian ports in the first days of July. At the same time a quarterly export schedule also released today showed a planned increase in exports via Baltic ports in July-September compared to April-June, due to cuts in exports to Belarus. ...