Asia-Pacific Crude-Steady; Vietnam tenders eyed

SINGAPORE: Trade in the Asia-Pacific crude market was muted on Thursday as traders waited for the results of Vietnamese tenders for second-half 2018 supplies.

INDONESIA: The Banyu Urip oilfield in Indonesia's Cepu block is currently producing around 210,000 barrels per day (bpd) of crude oil, compared to a 2018 target of 205,000 bpd, a Jakarta-based Exxon Mobil spokesman said.

Exxon's environmental permit allows output of up to 220,000 bpd from the field, said Erwin Maryoto, vice president of public and government affairs at ExxonMobil Cepu.

Exxon is also currently developing the Kedung Keris field in the Cepu block, and expects to start production of around 10,000 bpd there at the end of 2019.