SINGAPORE: January spot premium for heavy sweet Pyrenees rose in the Asia-Pacific crude market on Wednesday from the previous month on firm demand from China.
Apache sold a cargo to ChemChina at about $3 a barrel above dated Brent, traders said. This was against a premium of $2 in the previous month, one of the traders said. The deal could not be independently verified.
Traders await more tender results to gauge demand for January-loading cargoes.
SK Energy and Vitol may have bought Vietnamese Ruby from PV Oil in a tender that will be finalised by the end of Wednesday, traders said.
PV Oil offered Su Tu Den cargoes ranging from 200,000 to 500,000 barrels for loading on Jan. 8-21 in a tender to close on Nov. 24 with bids valid until a day later.
Indonesia's Petral issued a fourth spot tender this month seeking crude for delivery to Balikpapan on Jan. 14-16 or Cilacap on Jan. 21-22. The tender will close on Nov. 20 with offers valid until a day later.
Brent-Dubai Exchange of Futures for Swaps (EFS), or Brent's premium to Dubai swaps, edged up 7 cents to $1.82 a barrel for January.
MOVES
JPMorgan Chase & Co has hired Edwin Tay, formerly with Glencore, as a senior crude oil trader in Singapore, industry sources said on Wednesday.
MARKET NEWS
Indonesia's Pertamina expects its overseas assets to contribute between 90,000 and 120,000 barrels of oil equivalent per day (BOEPD) by the end of 2014, the company said on Tuesday, up from around 63,000 barrels per day of crude last year.
Indonesia's president appointed a former senior official at the corruption watchdog to head energy regulator SKKMigas, as part of efforts to restore investor confidence in the country's graft-ridden energy sector.
Temperatures in all 50 U.S. states dipped to freezing or below on Tuesday as an unseasonably cold blast of weather moved across the country, while heavy snow prompted a state of emergency in western New York.
Libya hopes to restart oil production at the southwesterly El Feel field next week, a spokesman for the state National Oil Corp (NOC) said on Tuesday.
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