MOSCOW, April 28 (Reuters) - Urals crude differentials
to dated Brent firmed on Friday after oil discounts for
May-loading cargoes for delivery to Indian ports narrowed,
according to trading sources and Reuters calculations.
* Urals discounts for May-loading cargoes reached $10 to $12
a
barrel to dated Brent on a delivered ex-ship (DES) basis in
Indian ports, from minus $13 a barrel for April loading cargoes.
* Indian refiner Chennai Petroleum Corp Ltd aims to almost
double
the processing of Russian oil in the current fiscal year that
began in April, drawn to the discounts offered.
* Meanwhile, Reuters calculations show free on board (FOB)
prices
for the grade fell below the Western price cap of $60 per barrel
on weaker Brent prices.
PLATTS WINDOW
* No bids or offers were made for Urals, Azeri BTC or CPC
Blend in
the Platts window on Friday, traders said.
NEWS
* Russia's offline primary oil refining capacity is expected
to
rise by 1.9 million tonnes in May from April to 4.4 million
tonnes, industry sources said and Reuters calculations showed on
Friday.
* Hungarian oil group MOL expects to be able to choose
between
Russian or non-Russian crude for its refineries by 2026, its
Chairman and Chief Executive Zsolt Hernadi told Reuters, by
implementing substantial investments.
* Russian President Vladimir Putin signed a decree exempting
the
current contracts with so-called "friendly" countries and
companies from his ban on Russian oil sales imposed in response
to price caps, according to the government's website.
* The Russian finance ministry is proposing to halve
subsidies to
oil refiners from July 2023, Interfax news agency reported on
Friday, quoting finance minister Anton Siluanov.
(Reporting by Reuters; Editing by Josie Kao)
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