MOSCOW, Feb 10 (Reuters) - Crude oil exports and transit
from Black Sea terminals resumed after a storm, while oil prices
rose more than 2% on Friday, as Russia announced plans to cut
oil production next month after the West imposed price caps on
its crude and fuel.
* Russia will cut oil production by 500,000 barrels per day,
or
around 5% of output, in March, Deputy Prime Minister Alexander
Novak said on Friday.
* Russia's government plans to set a fixed Urals crude oil
differential to dated Brent of $20 per barrel for tax purposes,
as state oil revenues slumped in January.
* Urals, Siberian Light and KEBCO loadings from Novorossiisk
and
CPC Blend loadings from the CPC terminal resumed on Friday after
3-4 days of suspension due to bad weather.
* Damage assessment and repairs are underway at Turkey's
Ceyhan
oil terminal, an official and an industry source said on Friday,
four days after a devastating earthquake, adding that exports
from the BTC pipeline could resume from Sunday unless problems
are found.
PLATTS WINDOW
* No bids or offers were made for Urals, Azeri BTC or CPC
Blend in
the Platts window on Friday, traders said.
NEWS
* Kazakhstan's state energy company Kazmunaigaz has
postponed the
start of oil exports from the giant Tengiz oilfield via the
Baku-Tbilisi-Ceyhan pipeline after BP Azerbaijan declared force
majeure on oil loadings from Ceyhan, four market sources said on
Friday.
* The price cap on Russian oil continues to meet objectives
and
any production cuts by Russia will disproportionately hurt
developing countries, a G7 price cap coalition official said.
(Reporting by Reuters; Editing by Alexander Smith)
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