RTRS:Asia-Pacific Crude-Vietnam buys first Libyan cargo
SINGAPORE, May 10 (Reuters) - Sentiment for Asia-Pacific
light sweet crude weakened on Thursday as Vietnam joined other
refiners in the region in buying cheaper grades from the
Atlantic Basin.
* TENDERS
- Vietnam's PV Oil bought Libyan crude for the first time as
it seeks to diversify supply for the country's sole refinery,
trade sources said.
PV Oil bought 600,000 barrels of Amna crude from European
trader Glencore to be delivered in the first half of June, the
sources said. The price was not immediately available and the
deal could not be confirmed with the two companies.
Vietnam's Dung Quat refinery usually processes light sweet
crude, relying on supply from within the Asia-Pacific region.
But a surge in Libyan crude exports amid weak demand in Europe
have pushed more supply of the light sweet grades to Asia.
- BPMIGAS offered two 150,000-200,000 barrel cargoes of
Senipah condensate for June loading. The tender will close on
May 14.
- India's BPCL has bought 3 million barrels of light sweet
crude via tender.
The company bought 2 million barrels of Nigerian Qua Iboe
from Morgan Stanley and 1 million barrels of Libyan Melittah
from Total, traders said. Price details and loading dates were
not available. These companies could not be reached.
* REFINERY
- Thailand's Bangchak Petroleum plans to shut its refinery
for maintenance from May 25 to June 23, it told the Stock
Exchange of Thailand.
* MARKET NEWS
- Indian Oil Corp, the country's biggest refiner, has made
its first purchase of Mexican Maya oil, a trade source said, as
the state-run firm looks to diversify its crude slate due to
improved capacity and reduced imports from sanctions-hit Iran.
- China's April imports of crude oil rose 3.3 percent from
the same month a year ago to 5.42 million barrels per day (bpd),
but high oil prices reduced the level of purchasing from the
previous month, customs data showed.
CRUDE Price Prev Change
JUNE Brent 112.91 112.40 0.51
JUNE Brent/Dubai EFS DUB-EFS-1M 3.84 3.73 0.11
PRODUCT CRACKS Price Prev Change
JUNE fuel oil crack -4.70 -3.86 -0.84
JUNE gasoil crack 16.67 16.79 -0.12
JUNE naphtha crack -11.13 -9.40 -1.73
COMPLEX REFINERY MARGINS
Today 7.81
Last 5 days 7.19
Last 365 days 7.63
