MOSCOW: Urals crude oil price differentials in the Mediterranean inched down on Monday, while Azeri light loading plan for September showed stable supplies from the Turkish port of Cheyhan, a copy the document obtained by Reuters showed.
Azeri light exports via BTC pipeline were set at 0.658 million barrels per day (bpd) compared to 0.660 million bpd in August.
"The market (for Azeri light) was quiet, as the people waited to see September lifting schedule," one trader said.
There are at least three unsold cargoes of Azeri light for loading in August, so the loading plan for next month may put its differentials under pressure, the trader added.
Azeri oil exports through the Baku-Tbilisi-Ceyhan (BTC) pipeline via Georgia and Turkey totalled 17.7 million tonnes in January-July, up 5 percent from the same period in 2015, state energy company SOCAR said on Monday.
There were no bids and offers for Azeri light, Siberian light, CPC Blend and Urals in the Baltic on Monday.
In the Mediterranean Litasco offered in the Platts window 80,000 tonnes of Urals on Aug. 20-24 down to dated Brent minus $1.75 a barrel, down five cents from Friday, but found no buyer.
Unipec was offering 140,000 tonnes of Urals from Novorossiisk on Aug. 21-25 at down to dated Brent minus $1.65 a barrel, traders said.
Russia may up Urals seaborne exports in September amid lower refinery runs in Russia and at oil plants along the Druzhba pipeline in Europe as seasonal maintenances loom, traders say.
MOL schedules turnarounds at Duna oil refinery in Hungary from August to October and at Bratislava refinery in Slovakia in October-November.
Russia's idle oil refining capacity seen at 2.4 million tonnes in September, up from 2.0 million tonnes in August, Energy Ministry revised data showed last week, while Reuters estimates and traders data suggests idle capacity may rise to 2.8 million tonnes.
The September OSP for Basra Light for Europe rose by $0.75 to dated Brent minus $3.95 a barrel and the September Kirkuk OSP rose to minus $4.05.
For Basra heavy, the September OSP for Europe rose by $1.00 to dated Brent minus $7.95 a barrel.
Qatar's energy minister said on Monday the oil market is on the path to rebalancing despite the recent decline in global oil prices, adding that the exporting group was in continuous talks to stabilise the market.
Libya's state oil company on Sunday called on rival armed factions to avoid damaging the oil terminal in Zueitina, following reports of possible clashes at the port.
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