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RTRS:Asia-Pacific Crude-Robust margins support sweet grades
 
SINGAPORE, Sept 26 (Reuters) - The Asia-Pacific crude market
rose on Thursday as robust refining margins continue to support
demand for sweet grades.

* TENDERS
- PV Oil sold two 250,000-barrel cargoes of Ruby crude for
November at premiums of more than $2 a barrel higher than the
previous month, traders said.
PV Oil sold the cargoes to SK Energy at a premium of about
$4.50 a barrel to dated Brent, they said. The deal could not be
confirmed.
The cargoes will load on Nov. 9-15 and 23-29.
- PV Oil sold 300,000 barrels of Su Tu Den for November at a
higher premium than the previous month, sources said.
The cargo was sold to a Japanese trader at a premium of
about $5.70 a barrel to the Minas formula, one source said.
This would be equivalent to about $4.70 a barrel above dated
Brent, a second source said, up from previous deals at premiums
of about $4 a barrel for September to October delivery to Japan.
- Thai refiner and petrochemical firm IRPC bought 1.2
million barrels of sweet crude for delivery in November, a
volume steady with the previous month, trade sources said.
The refiner bought 600,000 barrels each of Seria Light and
Azeri Light crude, they said.
Details of sellers and prices were not immediately
available.

* TRADES
- BHP sold a November Stybarrow cargo at a firm premium of
above $8 a barrel to dated Brent. The buyer was not immediately
known.

* MARKET NEWS
- Thailand's IRPC Pcl aims to spend $1 billion on
boosting its refining and specialty petrochemicals output by
2016, a top executive said, as the firm looks to tap demand for
products with high profit-margins.
- Talisman Energy Inc will have new crude oil and
condensate production coming online in Vietnam and Papua New
Guinea in the next two years to meet growing demand in Asia, a
company official said.
The Canadian company expects to start drilling at the Hai Su
Trang and Hai Su Den fields offshore Vietnam in the fourth
quarter with crude production to start in the middle of next
year, said Paul Blakeley, an executive vice president at
Talisman.
The field's production will peak at about 15,000 barrels per
day (bpd) and its output will be tied to export facilities at
neighbouring Te Giac Trang field, he said.
In Papua New Guinea, Talisman expects to start Stanley
condensate production in 2014, Blakeley said, with about 5,000
bpd produced in the first phase and gradually increased.
- Venezuela will hike the amount of oil it is sending to
India's Reliance Industries and signed a new 15-year
supply contract with the company on Tuesday, the oil minister
said.

CRUDE Price Prev Change
NOV Brent 109.59 110.59 -1.00
NOV Brent/Dubai EFS DUB-EFS-1M 3.44 3.35 +0.09

PRODUCT CRACKS
OCT fuel oil crack -5.46 -5.26 -0.20
OCT gasoil crack 19.39 19.31 +0.08
NOV naphtha crack -6.95 -7.53 +0.58

COMPLEX REFINERY MARGINS
Today 9.80
Last 5 days 9.36
Last 365 days 7.39
Source