RTRS:Asia-Pacific Crude-Condensate steady on firm naphtha cracks
SINGAPORE, Nov 6 (Reuters) - The Asia-Pacific crude market
held steady on Tuesday after Petronas sold December condensate
at a similar premium compared with last month supported by firm
naphtha cracks.
Meanwhile, the market is not likely to receive Dar Blend
supply soon as Sudan cancelled a tender to sell a November
cargo.
* TENDERS
- Malaysia Petronas sold a 250,000-barrel cargo of
Cakerawala condensate to BP at a premium of about $1 a barrel to
dated Brent for loading on Dec. 25-27, a trade source said.
- Sudan has cancelled a tender to sell 1 million barrels of
Dar Blend crude for November, trade sources said.
The tender would have been Sudan's first oil sale since
fighting broke out between Khartoum and neighbouring South Sudan
and halted crude exports early this year.
The reason for the cancellation was not immediately clear,
but a trade source said it may have been due to ownership
issues.
"This is oil that was left in storage tanks so I don't think
they have decided whether it belongs to the north or the south,"
he said.
* MARKET NEWS
- Vietnam's second refinery is likely to start operating in
2016, two years later than scheduled, as the final investment
decision has run into snags related to currency conversion and
construction costs, Idemitsu Kosan said.
- Thailand's Bangchak Petroleum Pcl is studying a
plan to build a second refinery with capacity of 150,000 barrels
per day (bpd) to tap demand in the fast-growing Southeast Asian
country.
- Taiwan's Formosa Petrochemical Corp will also
shut a 180,000 bpd crude distillate unit for approximately 45
days between March and June next year, its spokesman said.
- South Korea has closed two nuclear power reactors for
nearly two months of unscheduled maintenance to replace parts
that had been provided with forged certificates, the ministry of
knowledge economy said.
- Dubai-based NetOil, led by Middle Eastern businessman
Roger Tamraz, has submitted a new offer to take over France's
oldest refinery, unveiling a last minute deal with British oil
major BP and Hyundai.
CRUDE Price Prev Change
DEC Brent 107.35 105.17 +2.18
DEC Brent/Dubai EFS DUB-EFS-1M 3.55 3.10 +0.45
PRODUCT CRACKS
DEC fuel oil crack -10.07 -9.34 -0.73
DEC gasoil crack 17.90 18.22 -0.32
DEC naphtha crack -6.07 -5.17 -0.90
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