OSP Iran has set the official selling price (OSP) of its Iranian Light crude oil grade for its Asian buyers at $2.50 a barrel above the Oman/Dubai average for April, an industry source with knowledge of the matter said on Monday.
CHINA Russia overtook Saudi Arabia to be China's top oil supplier in the first two months of 2023, Chinese government data showed on Monday, as buyers snapped up sanctioned Russian oil at steep discounts. China exported 20% more gasoline and over 10 times more diesel in January and February than a year earlier, customs data showed on Saturday, after Beijing raised fuel export quotas to spur refinery output.
SINGAPORE CASH DEALS
Cash Dubai's premium to swaps dipped 32 cents to $1.37 a
barrel.
Seller-Buyer Price
VITOL-PETROCHINA 70.50
BP-TOTAL 70.45
UNIPEC-PETROCHINA 70.40
PHILLIPS 66-TOTAL 70.40
PHILLIPS 66-TRAFIGURA 70.35
PHILLIPS 66-TRAFIGURA 70.35
VITOL-TOTAL 70.30
VITOL-PETROCHINA 70.30
VITOL-TRAFIGURA 70.30
PHILLIPS 66-TOTAL 70.25
PHILLIPS 66-PETROCHINA 70.25
PHILLIPS 66-TOTAL 70.25
BP-TOTAL 70.29
PRICES ($/BBL) CURRENT PREV SESSION DME OMAN 70.35 74.93 DME OMAN DIFF TO DUBAI 1.43 1.77 CASH DUBAI 70.29 74.85
ASIAN REFINERIES Sinopec's Luoyang refinery will shut down its whole plant for a 54-days planned maintenance, starting from May 15. The refinery has 200,000 barrels-per-day (bpd) of crude oil processing capacity. China's state-owned refiner China National Petroleum Corporation (CNPC) will start maintenance at its Changqing refinery from April 1.
NEWS India plans to extend restrictions on the export of diesel and gasoline after the current fiscal year ends this month to ensure the availability of refined fuels for the domestic market, two government sources with direct knowledge of the matter said. Production at the Benchamas oil field in the Gulf of Thailand was suspended immediately after an accident last week and remains offline, U.S. oil giant Chevron Corp said in a statement on Monday. Kuwait Oil Co. on Monday declared a state of emergency due to an oil leak in the west of the country. Production was not affected because of the oil leak and there were no injuries reported, the company said in a statement.
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; Editing by Varun H K)
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