Med crude-Premiums for Azeri BTC firm, KMG starts supplies to BTC pipeline

Kitco Media
By Reuters
Published:
Updated:
Reuters
MOSCOW, March 23 (Reuters) - Premiums for April-loading Azeri BTC crude oil firm on Thursday amid good demand from Europe refiners, while Kazakhstan's Kazmunaigaz (KMG) started supplies to Baku-Tbilisi-Ceyhan (BTC) pipeline.
* Premiums for Azeri BTC crude oil cargoes loading in April improved to $3 per barrel above dated Brent with several deals done outside of the trading window this week, traders said.
* KMG has started shipping oil to the BTC pipeline in Azerbaijan as it seeks alternatives to exporting via Russian ports.
* KMG is expected to load about 90,000 tonnes of Azeri BTC from Ceyhan port in April, traders said. PLATTS WINDOW
* No bids or offers were made for Urals, Azeri BTC or CPC Blend in the Platts window on Thursday, traders said. NEWS


* Deputy Prime Minister Alexander Novak said a previously announced cut of 500,000 barrels per day (bpd) in Russia's oil production would be from an output level of 10.2 million bpd in February, the RIA Novosti news agency reported.
* Asian gasoil stocks have risen sharply in recent weeks as regional refiners are stuck exporting to markets east of the Suez, with narrower opportunities to send barrels to Africa flooded with Russian cargoes, traders and analysts said. (Reporting by Reuters; editing by Jonathan Oatis)

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.