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RTRS:Asia-Pacific Crude-ESPO, Sokol up ahead of winter demand
 
SINGAPORE, Sept 28 (Reuters) - Spot premiums for Russian
sweet crude rose to their highest in 7-8 months on Friday on
robust demand from Asian refiners as they will raise output to
meet strong consumption of middle distillates during winter.

* TENDERS
- Russia's TNK-BP sold a 730,000-barrel cargo of ESPO crude
for November to Japanese trader Petrodiamond at about $5 a
barrel above Dubai quotes, traders said, the highest premium in
seven months.
The deal for the Nov. 7-11 cargo could not be independently
verified.
Yet a rise in ESPO crude supply in November may exert some
downward pressure on its premiums, traders said.
Russia will boost exports of ESPO crude blend from the
Pacific port of Kozmino by 300,000 tonnes (2.2 million barrels)
in November compared with October at 1.6 million tonnes after
the expansion of the Asian pipeline, a loading schedule seen by
Reuters showed on Friday.
Next year, Transneft expects to load 20 million tonnes of
ESPO, up by one third from its plan for 2012.
- Indian state-run explorer Oil & Natural Gas Corp
sold 700,000 barrels of December Sokol crude to BP at about
$8.40 a barrel above Oman/Dubai quotes, the highest premium in
eight months. The cargo will load on Dec. 1-4.

* TRADES
- Inpex sold the sole Van Gogh cargo for November loading to
an unknown buyer at a premium between $5 and $5.50 a barrel to
dated Brent, steady from the previous month.
- Woodside-Mitsui likely sold Vincent crude to India at
premiums between $3 and $4 a barrel to dated Brent, lower than
previous months on a limited pool of buyers.

* MARKET NEWS
- Another cargo of North Sea Forties crude oil due to load
in October has been delayed, bringing to six the number of
postponed cargoes for the month, and more delays are likely to
be announced next week, trade sources said.
- Venezuela began early production on Thursday at two joint
ventures with Russian and Vietnamese investors in the South
American OPEC nation's huge Orinoco heavy crude belt.

- Sudan and South Sudan plan to avoid future disputes over
oil exports with a metering system, but have failed to end a
$1.8 billion row over how much Juba will pay for seizing
northern oil facilities after its secession.

CRUDE Price Prev Change
NOV Brent 112.59 110.39 +2.20
NOV Brent/Dubai EFS DUB-EFS-1M 3.60 3.50 +0.10

PRODUCT CRACKS
OCT fuel oil crack -6.78 -6.65 -0.13
OCT gasoil crack 19.13 18.86 +0.27
NOV naphtha crack -7.26 -7.03 -0.23

COMPLEX REFINERY MARGINS
Today 9.56
Last 5 days 9.59
Last 365 days 7.40

Source