RTRS:Asia-Pacific Crude-Vietnam grades steady to firmer
SINGAPORE, Oct 23 (Reuters) - Vietnamese crudes were steady
to firmer in Asia on Tuesday, supported by robust demand for
distillates-rich grades.
* OSP
- Vietnam's PV Oil set the official selling price (OSP) for
Su Tu Den from January to June 2013 using a dated Brent
benchmark, completing a switch to the price reference for all
its grades, trade sources said.
The OSP was set at $4.35 a barrel above dated Brent after it
sold term supply to three buyers, BP, Petrodiamond and
Petrosummit, in a tender, they said.
* TENDERS
- PV Oil sold Chim Sao crude for December loading at higher
premiums than the previous month on robust demand for
distillates-rich grades, trade sources said.
One of the cargoes was sold to BP at a premium of about
$5.80 a barrel to dated Brent, they said. It was not clear who
bought the second cargo.
PV Oil offered two 300,000-barrel cargoes for loading on
Dec. 12-16 and 22-26.
- PV Oil, has sold 300,000 barrels of Ruby crude for
December loading via tender at a premium steady with the
previous month, trade sources said.
The cargo for Dec. 14-20 loading was sold to Chevron at a
premium of about $4.50 a barrel to dated Brent, they said.
- Taiwan CPC is seeking West African sweet crude to load in
December or regional grades to load in January. The tender will
close on Oct. 24 and stay valid until 2 days later.
* TRADE
- Petronas sold 500,000 barrels of Bunga Kekwa for December
loading to Glencore at a premium of about $4 a barrel to dated
Brent.
* MARKET NEWS
- Shell said on Tuesday that it could not yet say when a
force majeure on exports of the Bonny and Forcados crude grades
will be lifted, after problems brought about by oil theft and
flooding in the Niger Delta.
Bonny Light and Forcados are two of Nigeria's most important
oil grades and in October they represented exports of 427,000
barrels per day, about a fifth of the country's total exports
2.048 million barrels per day.
- Shandong Dongming Petrochemicals Group has become China's
largest teapot refinery, with a capacity of 240,000 barrels per
day (bpd) after a new 120,000 bpd crude unit came onstream this
month, an industry source said.
- The spike in Japanese demand for liquefied natural gas
(LNG) triggered by a halt in nuclear power output in the wake of
the Fukushima disaster may have peaked, as two reactors are back
online and the summer demand season has passed, a senior
government official said.
CRUDE Price Prev Change
DEC Brent 109.17 110.21 -1.04
DEC Brent/Dubai EFS DUB-EFS-1M 3.50 3.43 +0.07
PRODUCT CRACKS
NOV fuel oil crack -7.34 -7.86 +0.53
NOV gasoil crack 17.64 18.25 -0.61
DEC naphtha crack -7.23 -8.10 +0.87
COMPLEX REFINERY MARGINS
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