March 12, 2018 / 5:45 PM / 4 days ago

Med Crude-Urals differentials stable in muted trade

MOSCOW, March 12 (Reuters) -

* Urals crude differentials in northwest Europe and Mediterranean were stable on Monday in muted trade, market sources said.

* They expect Urals provisional loading plan for the first days of April to emerge later this week showing higher exports from Russia’s ports as domestic turnarounds will pick up next month.

* There were no bids and offers for Urals, Azeri BTC and CPC Blend in the Platts window, traders said.

* Azeri BTC crude oil loadings from the port of Ceyhan are set to decrease in April to 20.7 million barrels from 22.02 million barrels in March, the loading schedule obtained by Reuters shows.

* State-controlled China Huarong Asset Management Co has bought a 36.2 percent stake in the unit of CEFC China Energy through which CEFC is acquiring a $9.1 billion stake in Russia’s Rosneft , a filing by the CEFC unit showed.

* CEFC China Energy, the once-acquisitive conglomerate, was prepared to pay annual rates of as much as 36 percent for short-term funding in a sign of the cash crunch faced by the company as authorities were closing in on its chairman, according to multiple people with knowledge of the matter.

* Iraq has dropped the April official selling price (OSP) for Basra Light, Basra Heavy and Kurkuk to Europe, the State Oil Marketing Organization (SOMO) said. (Reporting by Gleb Gorodyankin Editing by Matthew Mpoke Bigg) ))

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