RTRS:Middle East Crude-Qatar Marine steady, Murban seen lower
SINGAPORE, Jan 9 (Reuters) - The Middle East market
was mixed on Monday, with Qatar Marine crude for March arrival
expected to trade at steady discounts, while Abu Dhabi's Murban
crude could see wider discounts.
Values for Qatar Marine were pegged at discounts near 20
cents a barrel to official selling prices, in line with
transacted prices for February cargoes, traders said.
However, Murban crude is expected to trade lower at
discounts of between 10-20 cents a barrel, down from
single-digit discounts last month, they added.
* OSP
Yemen has set the official selling price of its Masila crude
for loading in March at a premium of $2.15 a barrel to dated
Brent, down 78 cents from the previous month, the government
said on Sunday.
European trader Arcadia bought 2.5 million barrels out of
the 3.1 million barrels of Masila crude offered in a tender, it
said in a statement. Yemen will offer the remaining 600,000
barrels in a separate tender.
The government has also set the March OSP for Marib Light
crude at parity to dated Brent, steady from the previous month.
* TRADES
- Arcadia bought two Dubai partials, one each from SK Energy
and Shell, from Arcadia at $110.89-$110.90 a barrel.
* EFS
- Front-month Brent/Dubai Exchange of Futures for Swaps
(EFS) for February DUB-EFS-1M fell 20 cents from Friday to
$3.62 a barrel.
* OMAN ASSESSMENTS
- March Oman traded on the DME rose 54 cents to a premium of
$2.17 to Dubai swap quotes at 0830 GMT, using the settlement
price for DME futures, the ICE one-minute marker for Singapore
and the Brent-Dubai EFS as calculated by Reuters.
* MARKET NEWS
- India's state-run Hindustan Petroleum Corp will
double the volume of Saudi crude it imports in an annual deal
beginning April, two sources said on Monday, a move that could
potentially replace some of its Iranian supplies.
- Top oil exporter Saudi Arabia pumped 9.80 million barrels
per day (bpd) in December, down from the highest rate in decades
of 10.05 million bpd the previous month, an industry source said
on Monday.
- Indian refiners and oil ministry officials are meeting on
Monday to discuss alternative methods to pay for Iranian oil
imports should an existing mechanism via Turkey's Halkbank be
halted under U.S. sanctions against Tehran.
- PetroChina plans to shut down a
120,000 barrel-per-day crude distillation unit (CDU) at its
largest Dalian refinery for maintenance from mid-March, an
industry source said on Monday.
- KazMunaiGas Exploration Production said
its crude oil production fell in 2011 due to industrial action
over the summer months, adding that it plans to increase capital
expenditure in 2012.
- Vietnam's only oil refinery, Dung Quat, will raise its
oil output this year by 10.1 percent from 2011 to around 6
million tonnes at a time when plans for other facilities have
been put on hold, a senior executive said on Monday.
* REFINERY MARGINS
- Simple gross refining margins for Dubai in Singapore were
at 61 cents per barrel, up from an average of the last five days
of 33 cents, Reuters data show. Over the last year, the average
margin has been about minus 87 cents per barrel.
* CRACK SPREADS
- Fuel oil's February crack weakened 62 cents to a discount
of $3.79 a barrel to Dubai crude.
- Gasoil's February crack rose 22 cents to a premium of
$18.76 a barrel to Dubai crude.
- Naphtha's front-month crack gained 70 cents to a discount
of $7.68 a barrel to Brent crude.
* OUTRIGHT PRICES
- February ICE Brent was at $113.68 a barrel at 0830
GMT, up 55 cents from Friday.
- March Oman rose $0.95 to settle at $111.89.
(Reporting by Francis Kan; Editing by Manash Goswami)