SINGAPORE, Feb 15 (Reuters) - Middle East crude
benchmarks Oman and Murban slipped on Wednesday as the market
fretted about oversupply in the region after Chinese top
state-owned refiners resumed buying discounted Russian Urals
crude oil.
China's state refiners, PetroChina and Sinopec, have
received permission from their headquarters to buy Russian crude
from trading companies at large discounts that will sharply
reduce costs for the world's top crude importer and boost
refining margins, industry sources said.
Meanwhile, the President of the Petroleum Association of
Japan said on Wednesday that oil refiners in the country may buy
Russian crude from the Sakhalin-2 oil and gas project, if
needed, to secure a stable supply of liquefied natural gas
(LNG).
RUSSIAN OIL
Crude oil exports and transit from Russia's Black Sea port
of Novorossiisk were suspended on Feb. 14 due to a storm, while
CPC Blend loadings via the neighbouring terminal operated by the
Caspian Pipeline Consortium (CPC) continue, two sources said on
Tuesday.
SINGAPORE CASH DEALS
Cash Dubai's premium to swaps stayed steady at $2.35 a
barrel. Vitol will deliver one April-loading Upper Zakum cargo
to Trafigura following the trade.
Seller-Buyer Price
GLENCORE-TRAFIGURA 83.39
VITOL-MERCURIA 83.35
BP-PETROCHINA 83.35
VITOL-MERCURIA 83.35
BP-MERCURIA 83.35
VITOL-MERCURIA 83.35
MITSUI-TRAFIGURA 83.30
BP-PETROCHINA 83.35
VITOL-MERCURIA 83.35
BP-MERCURIA 83.35
VITOL-PETROCHINA 83.35
BP-MERCURIA 83.35
VITOL-PETROCHINA 83.35
BP-MERCURIA 83.35
HENGLI-MERCURIA 83.35
VITOL-MERCURIA 83.35
EXXONMOBIL-TRAFIGURA 83.35
BP-PETROCHINA 83.35
HENGLI-MERCURIA 83.35
VITOL-TRAFIGURA 83.35
EXXONMOBIL-PETROCHINA 83.35
BP-MERCURIA 83.35
VITOL-MERCURIA 83.35
EXXONMOBIL-PETROCHINA 83.35
BP-TRAFIGURA 83.35
VITOL-MERCURIA 83.35
EXXONMOBIL-MERCURIA 83.35
BP-PETROCHINA 83.35
VITOL-PETROCHINA 83.35
EXXONMOBIL-MERCURIA 83.35
BP-MERCURIA 83.35
GLENCORE-TRAFIGURA 83.34
PHILLIPS 66-PETROCHINA 83.30
EXXONMOBIL-MERCURIA 83.35
PHILLIPS 66-TRAFIGURA 83.34
BP-MERCURIA 83.35
EXXONMOBIL-PETROCHINA 83.35
VITOL-MERCURIA 83.35
EXXONMOBIL-MERCURIA 83.35
VITOL-PETROCHINA 83.35
GLENCORE-TRAFIGURA 83.34
EXXONMOBIL-MERCURIA 83.35
GLENCORE-TRAFIGURA 83.34
MITSUI-MERCURIA 83.34
TOTAL-PETROCHINA 83.30
GLENCORE-TRAFIGURA 83.34
RELIANCE-MERCURIA 83.34
TOTAL-TRAFIGURA 83.34
VITOL-TRAFIGURA 83.34
VITOL-PETROCHINA 83.35
MITSUI-MERCURIA 83.34
GLENCORE-TRAFIGURA 83.34
MITSUI-MERCURIA 83.34
TOTAL-TRAFIGURA 83.34
VITOL-PETROCHINA 83.30
VITOL-TRAFIGURA 83.34
KOCH-MERCURIA 83.34
EXXONMOBIL-PETROCHINA 83.35
VITOL-TRAFIGURA 83.34
KOCH-PETROCHINA 83.35
VITOL-MERCURIA 83.34
TOTAL-TRAFIGURA 83.34
VITOL-TRAFIGURA 83.34
BP-PETROCHINA 83.35
TOTAL-MERCURIA 83.34
KOCH-MERCURIA 83.35
PRICES ($/BBL)
CURRENT PREV SESSION
DME OMAN 83.47 85.19
DME OMAN DIFF TO DUBAI 2.47 2.66
CASH DUBAI 83.35 84.88
NEWS
China will make up nearly half of this year's oil demand
growth after it relaxed its COVID-19 curbs, the International
Energy Agency (IEA) said on Wednesday, but restrained OPEC+
production could mean a supply deficit in the second half.
More Indian firms are attracted to buying Russian naphtha as
low-cost feedstock for their refineries and petrochemical plants
after price caps imposed by Western nations, six refining
sources said.
U.S. oil major Exxon Mobil can increase output in
Guyana to up to 400,000 barrels of oil equivalent per day
(boepd) by optimizing operations at its two production vessels,
a company executive said.
Russia has diverted its diesel export supplies to Africa and
Asia, as well for ship-to-ship (STS) loadings in February, as
embargo closed the European markets for Russian-origin fuel,
according to traders and Refinitiv data.
For crude prices, oil product cracks and refining margins,
please click on the RICs below.
Brent Dubai DME Oman Brent/Dubai EFS PRODUCT CRACKS
Fuel oil crack Gasoil crack Naphtha crack Complex refining margins (Reporting by Muyu Xu)
Asia Europe Americas CRUDE OIL MARKET NEWS
Crude oil tenders in Asia Crude oil supply outages in Asia Refinery outages in Asia Global arbitrage news and flows W.African crude imports to Asia, monthly REFINERY MAINTENANCE DIARIES
Asia Middle East Europe NATIONAL CRUDE IMPORT DATA
Japan China India S.Korea Indonesia CRUDE OIL INVENTORY DATA
Japan US Europe CRUDE OIL PRODUCTION/OILFIELD NEWS
OPEC output survey New Africa fields New projects New Americas fields CRUDE OIL MARKET REPORTS
Middle East Asia-Pacific West Africa North Sea Asia outlook Europe outlook Global futures report Technicals report PRICES
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