SINGAPORE, Aug 1 (Reuters) - Asia-Pacific crude rose on Monday after Vietnam's PV Oil sold the first two cargoes of the new Te Giac Trang crude for September-October loading via tender to European trader Vitol at better-than-expected premiums. * TENDERS PV Oil sold the September cargo at 11 cents a barrel above Minas formula, while a second parcel for early October loading was sold at a premium of $1.51 a barrel, one of the sources said. Vitol will lift 500,000-600,000 barrels of Te Giac Trang crude per month, he said. The values are "pretty hot for a new crude", a Singapore-based trader said. Most traders were expecting the crude to be sold at parity or discount to the Minas formula. New crudes are usually sold at deep discounts, because production takes time to stabilise and refiners need to process them to check for contaminants and assess oil product yields. An assay for the tender dating back to 2009 showed that the crude has an API gravity of 39 degrees with 0.07 percent sulphur and a 28 percent distillates yield, a second trader said. "There is no real assay. The mercury level is unknown, and there are so many uncertainties. I don't think any refiner will take a whole cargo," a third trader said. The process is even more complicated for the new crude to be used at power plants as "a lot of approvals" are needed, he said. * TRADE - A Japanese refiner has bought its third cargo of Rang Dong for September loading from ConocoPhillips at a premium near $5 a barrel to Minas formula, a trader said. * EFS - Front-month Brent/Dubai Exchange of Futures for Swaps (EFS) for September rose 32 cents from Friday to $5.99 a barrel. * MARKET NEWS - Malaysia's government has ordered seven floating storage facilities with a capacity to hold about 1.9 million tonnes of crude or fuel oil anchored off the southeastern port of Pasir Gudang to leave by the end of this month, industry sources said. - Glencore, the world's largest diversified commodities trader, has booked a supertanker to store part of the nearly 4 million barrels of gas oil it purchased in July, industry sources said. - U.S. offshore oil and natural gas producers are restarting production operations with Tropical Storm Don long over, data from Gulf of Mexico energy regulators showed. * REFINERY MARGINS - Complex processing margins for Dubai in Singapore were around $6.05 per barrel, down from an average of the last five days of $7.86, Reuters data show. Over the past year, the average margin has been around $6.64 per barrel. * CRACK SPREADS - Fuel oil's September crack widened 2 cents to a discount of $7.79 a barrel to Dubai crude. - Gas oil's September crack rose $1.77 to a premium of $20.08 a barrel to Dubai crude. - The naphtha CFR Japan front-month crack widened 33 cents to a discount of $6.42 a barrel to Brent. * OUTRIGHT PRICES - September ICE Brent LCOc1 was at $119.10 a barrel at 0830 GMT, up $1.01 from Friday. (Reporting by Florence Tan, editing by Jane Baird)

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