SINGAPORE, June 21 (Reuters) - Ample supply continued to
depress sweet crude in the Asia-Pacific on Thursday, with
Vietnam selling Te Giac Trang crude at the lowest premium in six
months.
* TENDERS
- Vietnam's PV Oil sold a 300,000-barrel cargo of TGT crude
to Shell and another of the same size to Vitol at premiums of
about $5 a barrel to dated Brent, traders said.
That marks the lowest premium since TGT was sold on a dated
Brent basis for February.
- Russia's Surgutneftgaz issued a monthly tender
offering five 730,000-barrel cargoes of ESPO crude to load on
Aug 9-13, 12-16, 18-22, 23-27 and 25-29. The tender will close
on June 25.
- BPCL has bought one Qua Iboe cargo and one
Agbami cargo for loading in late July or early August from Shell
via a tender, traders said.
- Taiwanese refiner CPC Corp has yet to award its sweet
crude tender for August loading cargoes.
- India's HPCL is seeking sweet crude for August
loading. Grade offers are due on June 22 while prices are to be
submitted on June 25. Offers will remain valid until June 26.
* MARKET NEWS
- Gennady Timchenko, co-owner of Gunvor, says now is the
right time to buy downstream assets, as he eyes transforming his
fast-growing Russian trading house into a vertically integrated
energy business.
- Encana Corp, Canada's largest natural gas producer, will
speed its hunt for oil and natural-gas liquids as it looks to
diversify its production away from low-value natural gas, the
company said.
CRUDE Price Prev Change
AUG Brent 91.52 95.18 -3.66
AUG Brent/Dubai EFS DUB-EFS-1M 1.54 2.03 -0.49
PRODUCT CRACKS Price Prev Change
JULY fuel oil crack -0.81 -1.91 1.10
JULY gasoil crack 17.12 16.83 0.29
AUG naphtha crack -11.83 -12.90 1.08
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