SINGAPORE, June 11 (Reuters) - Heavy sweet Duri crude held
steady in Asia on Monday after Indonesia sold a whole year's
supply at a firm premium on robust demand from Japan.
* TENDERS
- Indonesia's BPMIGAS has sold a year's supply of Duri crude
to Emirates National Oil Co (ENOC) in a tender at a steady
premium from the previous deal, traders said.
ENOC bought the Duri cargoes for loading between June 2012
and May 2013 at a premium of about $5 a barrel to its Indonesia
crude price, they said. It can lift 200,000-450,000 barrels of
Duri each month.
ENOC is likely to re-sell the cargoes to Japan, traders
said, as only Japanese utilities can afford Duri at this
premium.
The grade is likely to be blended with low-sulphur fuel oil
for oil-fired power plants in Japan.
- Indian Oil Corp (IOC) has bought nearly 4 million barrels
of West African crude in a tender for loading in the second half
of July, traders said.
The refiner bought 1 million barrels each of Hungo and
Agbami from Shell and 950,000 barrels of Kissanje from Sonangol
and 950,000 barrels of Dalia from Mercuria, they said. Prices
were not immediately available.
* TRADE
- ConocoPhillips likely sold its July Bayu Undan cargo to
ExxonMobil at $10-$11 a barrel below dated Brent, sharply wider
than the $6 a barrel discount for June after naphtha cracks
plummeted.
* MARKET NEWS
- Japan's prime minister said on Friday two idled nuclear
reactors in western Japan must be restarted to protect jobs and
ensure the "survival of society," risking a voter backlash given
safety fears more than a year after the Fukushima crisis.
- China's implied oil demand inched up 0.4 percent in May
year-on-year, and rose marginally from April, when the figure
fell for the first time in more than three years.
- The oil boom in North Dakota and Texas has helped push
U.S. quarterly crude output over 6 million barrels per day for
the first time in 14 years, the government said.
CRUDE Price Prev Change
JULY Brent 100.43 97.33 3.10
JULY Brent/Dubai EFS DUB-EFS-1M 2.95 3.00 -0.05
PRODUCT CRACKS Price Prev Change
JULY fuel oil crack -3.19 -3.23 0.04
JULY gasoil crack 15.35 15.85 -0.50
JULY naphtha crack -13.65 -14.11 0.46
COMPLEX REFINERY MARGINS
Today 3.14
Last 5 days 5.68
Last 365 days 7.47
