RTRS:Asia-Pacific Crude-Rises on robust demand from Shell
SINGAPORE, May 21 (Reuters) - Asia-Pacific crude market rose
on Monday on robust demand from Shell as the oil major bought at
least four July cargoes at higher premiums than the previous
month.
* TRADE
- Shell bought a Labuan cargo from Petronas at $9-$9.20 a
barrel above dated Brent, about 50 cents higher in premium than
the previous month.
* TENDERS
- Vietnam's PV Oil sold three Chim Sao crude cargoes for
July loading in a tender at higher premiums than the previous
month on robust demand from a major oil company, traders said.
Shell snapped up all three cargoes in the tender at between
$8 and $8.50 a barrel above dated Brent, they said, or $1-$2
higher in premiums than the previous month. The 300,000-barrel
cargoes will load on July 4-8, 14-18 and 24-28.
- Murphy Oil is likely to have awarded a cargo of Kikeh
crude for July 12-17 loading in a tender that closed early
Monday. A trader said the cargo was sold at a premium of $8.50 a
barrel to dated Brent although this could not be confirmed.
- Sakhalin Energy offered 730,000 barrels of Vityaz crude
for loading on July 30-Aug. 6. The tender will close on May 22
with bids valid until a day later.
- Taiwanese refiner CPC Corp is seeking sweet crude for July
loading in a tender that will close on May 22. Offers will stay
valid until May 24.
- India's BPCL has issued a tender to buy light sweet crude
for loading in the last 10 days of July. Grade offers should be
submitted by May 25 and price offers should be done by May 28.
Offers remain valid until May 29.
* MARKET NEWS
- Japan's AOC Holdings said its Fuji Oil unit plans to
refine 8 percent more crude oil in the year to end-March 2013
than a year earlier, to meet firm demand for low-sulphur fuel
oil for power generation after the March 2011 earthquake.
- Indian refiner MRPL secured coverage from an Iranian
insurer for a crude cargo that arrived last week, becoming the
first Indian firm known to have taken such action as Western
sanctions tighten, sources with knowledge of the matter said.
- China's crude oil imports from Iran rebounded more than 50
percent in April from March after resolving pricing disputes
over term contracts, but shipments fell nearly a quarter from a
year ago, with Saudi Arabian supplies helping to plug the gap.
- Small non-OPEC producer Oman expects to raise its average
oil and condensate production to 915,000 barrels per day (bpd)
in 2012, up from the 885,000 bpd last year, the oil ministry
said.
CRUDE Price Prev Change
JULY Brent 107.99 107.15 0.84
JULY Brent/Dubai EFS DUB-EFS-1M 3.86 3.67 0.19
PRODUCT CRACKS Price Prev Change
JUNE fuel oil crack -4.10 -4.24 0.14
JUNE gasoil crack 15.87 16.17 -0.30
JULY naphtha crack -11.16 -10.12 -1.03
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