SINGAPORE: Light grades in the Middle East crude market traded at discounts as buyers maximised term supplies from Saudi Arabia after the OPEC kingpin cut monthly prices, traders said on Monday.
MIDEAST: Japanese refiner Fuji Oil bought a cargo of February-loading Murban crude on Monday at a discount of 25 cents-30 cents a barrel to the grade's official selling price via a tender, traders said.
The discount was narrower than the 45 cents a barrel done in the previous month's tender.
Separately, Unipec has sold a February-loading Qatar Land cargo to Shell at 35 cents a barrel below its OSP.
Iraq's SOMO sold 2 million barrels of Basra Light for Dec. 24 loading to a major, probably Shell, at about $1 a barrel above its OSP. SOMO has re-issued a tender to sell 1 million barrels of Basra Heavy crude for Dec. 20 loading.
RUSSIA: Spot premiums for February-loading Russian Sokol crude have dropped to a three-month low after refining margins in Asia hit their lowest in more than four years, traders said.
ONGC sold a second Sokol cargo loading in February to Trafigura at $4.10-$4.20 a barrel to Dubai quotes, the sources said.
The 700,000-barrel cargo will load on Feb. 22-28, they said.
Japan's SODECO has also sold a February-loading cargo to a South Korean end-user at a similar premium, the sources said.
Exxon Mobil did not award a tender on Monday to sell at least one of three cargoes to load on Feb. 2-6, Feb. 7-11 and Feb. 17-21 as bids were too low, they said.
Russia's Surgutneftegaz will close a tender later on Monday to sell 200,000 tonnes of ESPO Blend crude for loading from Kozmino port on Jan. 31-Feb. 5 and Feb. 4-9, traders said.
Sakhalin Energy also has a tender to sell Sakhalin Blend crude which will close on Dec. 19.
ASIA-PACIFIC: ConocoPhillips will close on Tuesday a tender to sell a Kimanis cargo loading on Feb. 19-23. It also has a tender to sell a Bayu Undan condensate cargo loading on Feb. 6-12 that will close on Wednesday.
Indonesia's TPPI did not award a condensate tender last week and it remained to be seen if it will buy any cargo for February delivery.
Comments
Comments are closed for this article.