November 13, 2017 / 5:31 PM / in 6 days

Med Crude-Urals up in Baltic on demand for December volumes

MOSCOW, Nov 13 (Reuters) -

* Urals crude differentials firmed against dated Brent in northwest Europe on Monday on demand for December volumes, though there were no loading dates for next month so far.

* In the Platts window BP bid for 100,000 tonnes loading from Baltic ports on Dec. 3-7 at dated Brent minus $0.90 a barrel, which was around 15 cents firmer than the recent estimates, but failed to find a seller.

* Traders said it was not easy to find a seller for December-loading cargo before the release of loading dates, which is expected over the course of the week.

* Urals December exports are expected to be even lower than in November due to higher runs on Russian refineries.

* In the Mediterranean Litasco offered 140,000 tonnes of Urals loading from Novorossiisk on Nov. 23-27 at dated Brent minus $0.40 a barrel, but failed to find a buyer and withdrew the offer.

* Traders said demand for 140,000-tonne cargoes in the Mediterranean was rather poor due to limited arbitrage possibilities to Asia.

* Premiums for CPC Blend against dated Brent remained stable despite ample supply expected for December.

* In the Platts window OMV bid for 85,000 tonnes of CPC Blend loading on Nov. 29 - Dec. 2 at a premium of $0.25 a barrel, while Trafigura offered a cargo of the same size loading on Dec. 4-8 at dated Brent plus $0.40 a barrel, traders said.

* Bids and offers were in line with the latest grade’s estimates, but no deal was done.

* There were no bids of offers for Azeri BTC or Siberian Light in the Platts window, traders said.

NEWS

* Kazakhstan’s giant Kashagan oilfield will reach its planned capacity of 370,000 barrels per day later than anticipated, its developer, the North Caspian Operating Company (NCOC), said.

* Oil Minister Jabar al-Luaibi said Iraq plans to increase production from oilfields in Kirkuk to one million barrels per day and has visited the Bai Hasan and Avana fields to order work be accelerated to restore operations soon.

Reporting by Olga Yagova, editing by David Evans

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