off-the-wire

Med crude-Urals diffs steady, Turkey's Ceyhan oil loadings halted after quake

Kitco Media
By Reuters
Published:
Updated:
Reuters
MOSCOW, Feb 6 (Reuters) - Urals crude differentials to dated Brent were little changed on Monday, while a massive earthquake that struck Turkey and Syria halted operations at Turkey's major oil export hub in Ceyhan and stopped key crude oil flows from Iraq and Azerbaijan.
* BP Azerbaijan said a "small" oil leak had been found at Ceyhan, which led to operations being halted, and had been stopped, while three sources with direct knowledge added the Baku-Tbilisi-Ceyhay (BTC) pipeline was undamaged.


* Iraq's Kurdistan Regional Government (KRG) halted flows through the pipeline it operates that runs from Iraq's northern Kirkuk fields to Ceyhan.


* Europe will no longer set the reference price for Russia's flagship Urals crude, Igor Sechin, the CEO of Russia's oil major Rosneft said on Monday.
* Kazakhstan's Kazmunaigaz (KMG) will start oil shipments via the BTC pipeline in February, according to three sources familiar with the matter. PLATTS WINDOW
* No bids or offers were made for Urals, Azeri BTC or CPC Blend in the Platts window on Monday, traders said. NEWS
* Slumping energy revenues and soaring expenditure pushed Russia's federal budget to a deficit of 1.76 trillion roubles ($24.78 billion) in January.
* Equinor said on Monday it had halted oil production at its Johan Sverdrup Phase 1, the North Sea's largest producing field, due to a technical fault in a cooling system. (Reporting by Reuters)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.