off-the-wire

Med crude-Premiums for Azeri BTC ease, more Urals oil heads to China

Kitco Media
By Reuters
Published:
Updated:
Reuters
MOSCOW, Feb 20 (Reuters) - Premiums for Azeri BTC crude oil eased on Monday amid weak demand, while more Urals cargoes loading this month were heading to China, traders said.
* Demand for Azeri BTC crude oil cargoes was quite reserved amid weaker refining margins of the grade in Europe, traders said.
* China doubled its purchases of Urals oil in the first half of February compared to the same period of January. PLATTS WINDOW
* Norway's Equinor offered 600,000 barrels of Azeri BTC loading on March 4-8 at dated Brent plus $2.30 per barrel, but failed to find a buyer. NEWS
* Kazakhstan has separated its oil exports from those of Russian crude by launching its own KEBCO brand, but sanctions against Moscow are still putting pressure on the price of Kazakh oil pumped through Russian pipelines, data shows.


* Germany's Schwedt refinery, whose majority owner Rosneft Deutschland has been put under trusteeship by the government, will undergo major maintenance in spring that will lower utilisation to less than half. (Reporting by Reuters Editing by Chris Reese)

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.