SINGAPORE: The Asia-Pacific condensate market slipped on Wednesday on the back of weaker naphtha margin though refinery maintenance could lift the latter's demand in April, traders said.
MALAYSIA
Malaysia's Petronas sold 320,000 barrels of Cakerawala condensate for loading between April 21 and April 30 to Thailand's PTT at a premium of $3 a barrel to dated Brent, traders said.
It also sold 300,000 barrels of Muda condensate for April 17-23 loading to PTT at a premium of $2.50 a barrel to dated Brent, they added.
It last sold a March-loading Muda condensate cargo to PTT at a premium of $3 to $3.50 a barrel to dated Brent, traders said.
VIETNAM
Vietnam's PV Oil sold a Rong Doi condensate cargo for loading between April 17 and April 23 to South Korea's SK Energy at a premium of $2 a barrel to dated Brent, traders said.
TAIWAN
Taiwan's CPC Corp is seeking a sweet crude for loading in April and May delivery in a tender that closes on Feb. 21, traders said.
The crude grades it was seeking included Bach Ho, Enfield, Lufeng, Nanhai light and Vityaz, one of them said.
NEWS
The emergence of self-driving electric cars and travel sharing are set to dent oil consumption by 2040, oil and gas giant BP said, forecasting a peak in demand for the first time.
Glencore Chief Executive Ivan Glasenberg hailed the group's results as its "strongest on record" on Wednesday, bolstered by strong commodity markets and reduced costs.
Thai oil and gas company PTT Pcl said on Wednesday it would increase its stake in oil refiner IRPC Pcl, purchasing all the shares held by state-run lender Government Savings Bank for 13.85 billion baht ($439.26 million).
Japanese oil refiners are likely to shut 14 crude distillation units (CDUs) and a condensate splitter this year for scheduled maintenance, industry sources and some companies said.
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