SINGAPORE: Asia-Pacific crude market held steady as traders awaited results of PTT's buy tender to gauge price direction for April-loading cargoes which will trade later this month.
PV Oil did not award a tender to sell Bach Ho crude for loading in the first half of March as the cargo will be used at the domestic refinery, sources familiar with the matter said.
Separately, the Vietnamese marketer issued two tenders for April-loading crude. The Su Tu Den tender will close on Feb. 10 with bids valid until a day later.
PV Oil also offered two 200,000-barrel cargoes of Thang Long crude for loading on April 9-15 and 23-29. The tender will close on Feb. 11 with bids valid until Feb. 12.
For Russian grades, Sakhalin Energy has renamed Vityaz as Sakhalin Blend after the injection of condensate from the Sakhalin 3 project, trade sources said. The oil's quality remained similar to Vityaz as the volume injected was small, they said.
Insurance costs for Nigerian crude shipments may rise following a reported attack on an oil tanker near the Qua Iboe terminal.
Brent-Dubai Exchange of Futures for Swaps (EFS), or Brent's premium to Dubai swaps, edged up 7 cents to $1.38 a barrel for March. April EFS was at $1.39, down 4 cents.
MARKET NEWS
Gunmen killed 12 people, among them two Filipino and two Ghanaian nationals, after storming a remote Libyan oilfield, a Libyan official said.
The supply of North Sea crude that underpins the Brent benchmark will average 910,000 barrels per day (bpd) in March, according to loading programmes provided by trade sources.
The chief executive and other senior management at Brazil's Petrobras resigned on Wednesday amid a festering corruption scandal, setting off a scramble to find replacements capable of restoring investor confidence in the state-run oil company.
Hong Kong-based Chow Tai Fook group, owner of the world's biggest jewellery company, is making an unlikely foray into China's oil trading business, according to several traders recruited by the group.
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