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RTRS:Asia-Pacific Crude-ESPO up on firm distillates margins
 
SINGAPORE, Sept 4 (Reuters) - Russian sweet crude rose in
Asia on Tuesday as strong middle distillates margins lifted spot
premiums.

* TENDERS
- Surgutneftgaz sold five cargoes of ESPO crude for loading
in October-November at the highest premiums in three months on
strong middle distillate margins, traders said.
The cargoes were sold at premiums between $4.05 and $4.20 a
barrel to Dubai quotes, the traders said. Trading firms
Petrodiamond, Itochu and Glencore bought a cargo each, while
Shell likely purchased two, they said.
The 100,000-tonne cargoes will be loaded at the Russian Far
East terminal of Kozmino on Oct. 8-12, 10-14, 17-21, 22-26 and
Oct. 29-Nov. 2.

* DRAGON AROMATICS
- Dragon Aromatics plans to start up the largest condensate
splitter in China in the fourth quarter of this year which will
provide feedstock for the production of paraxylene, industry
sources said.
The splitter is part of a 200 billion yuan ($31.5 billion)
petrochemicals complex in southern China Fujian province that
includes a 4 million tonne-per-year (tpy) condensate plant and a
3.17 million tpy hydrocracker, the sources said.
Dragon Aromatics will need to import more than 90,000
barrels per day (bpd) of condensate as well as atmospheric
residue, straight-run fuel oil or vacuum gasoil (VGO) for the
hydrocracker, two sources familiar with the situation said.
Dragon Aromatics plans to buy its first condensate cargo for
delivery at end October or in November for trial runs at the
splitter, the sources said.

* MARKET NEWS
- Former civil war foes Sudan and South Sudan are to resume
talks on Tuesday in Ethiopia that mediators hope will produce a
deal to secure the volatile joint border and clear the way for
the two countries to resume oil exports.
- Libya is preparing to export the first post-war shipment
of fuel oil from Ras Lanuf, the country's largest refinery, this
week, a local shipping agent said.
- Most of the oil refineries affected by Hurricane Isaac in
the U.S. state of Louisiana were restarting on Monday, while
nearly 60 percent of offshore crude oil production in the Gulf
of Mexico remains offline, according to U.S. government reports.


CRUDE Price Prev Change
OCT Brent 116.14 114.55 +1.59
OCT Brent/Dubai EFS DUB-EFS-1M 3.50 3.40 +0.10

PRODUCT CRACKS
OCT fuel oil crack -5.58 -5.57 -0.01
OCT gasoil crack 20.14 19.91 +0.23
OCT naphtha crack -6.25 -6.11 -0.15

COMPLEX REFINERY MARGINS
Today 7.16
Last 5 days 9.68
Last 365 days 7.38

Source