SINGAPORE, Nov 7 (Reuters) - Spot premiums for Russian ESPO rebounded from a two-year low in Asia on Wednesday on robust demand from SK Energy and Petron. For regional grades, Indonesia's Cinta stayed firm in the absence of bids and offers on the Platts window after a deal on Tuesday pushed up its price. * ESPO - Petron Corp, the biggest oil refiner in the Philippines, bought a cargo of Russian ESPO crude for January delivery in a tender at a price equivalent to a premium of about $3.50 a barrel to Dubai quotes on a free on board (FOB) basis, traders said. - SK Energy may have bought three ESPO cargoes for December loading at premiums between $2.55 and $3.10 a barrel to Dubai quotes, a trader said, although this could not be confirmed with the refiner. ESPO crude premiums had slipped to the lowest in two years after Russia increased exports. * CINTA - Itochu sold on Tuesday 100,000 barrels of Cinta crude to Gunvor for December at $110 a barrel, up from a bid of $105.80 made by the European trader on the Platts window the previous day, traders said. Cinta has become more expensive than Indonesian benchmark Minas, an unusual phenomenon as the latter is of a better quality, they said. "It's not logical," a trader said. The Indonesian crude is also one of three grades used by China to determine if it needs to raise or reduce fuel prices. The world's second-largest oil consumer may consider a cut as early as Friday as the 22-day moving average price of Brent, Dubai and Cinta on Nov. 6 was 3.47 percent below the level when China last raised fuel prices, data from energy consultancy ICIS C1 Energy showed. * TENDERS - Indonesia's Petral issued a tender seeking more sweet crude for January delivery. It sought a cargo to be delivered to Balikpapan on Jan. 11-15 and another to arrive at Cilacap or Balikpapan on Jan. 1-20. The tender will close on Nov. 9 with offers valid until Nov. 12. * MARKET NEWS - Supply of the North Sea crude oil that underpins the benchmark Brent contract is set to slip in December, providing support to prices, despite the restart of Britain's largest oilfield. - China, the world's second-largest oil consumer, may consider cutting gasoline and diesel prices as early as Friday as a basket of crude oil prices is nearing a trigger point, the official Xinhua news agency said. - The board of Russia's fourth-largest crude producer Surgutneftegaz voted in favour of leaving the Russian consortium developing Venezuela's Orinoco belt, its last foreign project, the company said. - Energy companies likely will see more regulation in President Barack Obama's second term, with less access to federal lands and water even as the administration promotes energy independence. CRUDE Price Prev Change DEC Brent 110.52 107.35 +3.17 DEC Brent/Dubai EFS DUB-EFS-1M 3.68 3.55 +0.13 PRODUCT CRACKS DEC fuel oil crack -10.24 -10.07 -0.17 DEC gasoil crack 17.67 17.90 -0.23 DEC naphtha crack -6.52 -6.07 -0.45 COMPLEX REFINERY MARGINS Today 5.73 Last 5 days 6.04 Last 365 days 7.27

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