October 16, 2018 / 5:56 PM / 2 years ago

Med crude-Urals diffs in NWE stay weak, CPC Blend edge lower

MOSCOW, Oct 16 (Reuters) - Urals crude differentials in northwest Europe were stable on Tuesday after losing 90 cents a barrel in the previous trading session, while CPC Blend estimates edged lower.

Urals crude exports and transit shipments from the Baltic Sea ports of Primorsk and Ust-Luga between Nov. 1 and 6 will rise to 1.0 million tonnes, from 0.9 million tonnes in the same period of October, a provisional loading plan obtained by Reuters showed.

Crude oil loadings from the Black Sea port of Novorossiisk from Nov. 1-6 will total 0.3 million tonnes, compared to 0.4 million tonnes from Oct. 1-6.

Traders don’t rule out that November crude exports could outnumber October shipments on a daily basis, despite the end of seasonal turnarounds at Russia’s plants, because domestic demand may be limited by high oil prices.

* In the Platts window, OMV offered 95,000 tonnes of CPC Blend Oct. 27-31 loading down to minus $1.45 a barrel to dated Brent, down by 20 cents from the last estimates, but there was no interest.

* There were no bids and offers for Urals, Azeri BTC and Siberian Light in the Platts window on Tuesday, while a spot sell tender showed that Urals differentials in the Baltic remained weak.

* Russia’s Surgutneftegaz in a spot tender on Tuesday sold to Glencore 100,000 tonnes of Urals crude oil for loading from the port of Ust-Luga on Oct. 27-28.

* The cargo was sold at dated Brent minus $3.00 a barrel, when applied to CIF northwest Europe basis, widely unchanged from Urals estimates on Monday.

* On the same day Surgut called a spot tender to sell 300,000 tonnes of Urals loading from Russian Baltic ports in November.

* The producer offered buyers a Urals cargo of 100,000 tonnes loading from Primorsk port on Nov. 2-3 as well as two Urals cargoes ex-Ust-Luga port on Nov. 1-2 and 5-6. The tender will close on Wednesday at 1400 Moscow time (1100 GMT).

* Azeri oil exports through the Baku-Tbilisi-Ceyhan (BTC) pipeline via Georgia and Turkey fell by 0.4 percent to 25.154 million tonnes in the first nine months of this year, versus the same period in 2017. (Reporting by Gleb Gorodyankin; Editing by Susan Fenton)

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