Med crude-Urals differentials steady, loadings from Primorsk set to decline for April 1-14 m/m

Kitco Media
By Reuters
Published:
Updated:
Reuters
MOSCOW, March 27 (Reuters) - Urals crude oil differentials were unchanged on Monday, while the grade's loadings from Primorsk port in Russia's Baltic are set to decline slightly in the first half of April, sources said.
* Russian Urals oil exports from the Primorsk port were set at 1.5 million tonnes for April 1-14 compared with March 1-14, according to two trading sources familiar with the loading plan.
* On a daily basis Urals oil loadings from the port will decline 6% during April 1-14 from the same period in March, Reuters calculations showed.
* Traders thought that overall Urals oil exports from Russian sea ports will be in line with March or higher amid seasonal maintenance on the state's refineries.


* India was the biggest buyer of seaborne Urals oil in March and the country's demand for the grade means Russia has to maintain high exports, two traders said and Refinitiv Eikon data showed on Monday.
* The Spanish government has tightened its rules around ship-to-ship (STS) oil transfers after an uptick in the activity along its coastline.
* STS facility off Ceuta, a Spanish enclave on the coast of Morocco, has been one of the most popular locations for Russian oil suppliers. Now they have to find a new spot for these operations, which may complicate logistics, traders said. PLATTS WINDOW
* No bids or offers were made for Urals, Azeri BTC or CPC Blend in the Platts window on Monday, traders said. NEWS


* Saudi Aramco raised its multibillion-dollar investment in China by finalising and upgrading a planned joint venture in northeast China and acquiring an expanded stake in a privately controlled petrochemical group.
* Oil production in Iraq's semi-autonomous Kurdistan region (KRI) is at risk after a halt in northern exports has forced firms operating there to divert crude to storage, where capacity is limited. (Reporting by Reuters; Editing by Mark Porter)

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