SINGAPORE, May 23 (Reuters) - The Asia-Pacific crude market fell on Wednesday, dragged down by a sudden surge in Bach Ho exports that added to unsold supply accumulated in previous months while demand was lacklustre on poor naphtha cracks. * TENDERS - Vietnam's PV Oil sold July-loading Bach Ho crude at the lowest premium in nine months as its prompt release took the market by surprise, traders said. The company sold 600,000-800,000 barrels of Bach Ho to a Japanese buyer and an oil major, likely Shell, at a premium of around $6 a barrel to the Minas formula, they said. After the tender, PV Oil privately offered another six cargoes of Bach Ho for May-June loading, a move that could depress the grade's spot premium further, traders said. Vietnam is selling prompt supply of Bach Ho after its only oil refinery was unexpectedly shut in mid-May due to problems with its gasoline-making unit. - PV Oil sold 250,000 barrels of Song Doc crude for July loading via tender at the lowest premium in at least one year as a strong Minas price reference depresses demand for the grade, traders said. The Song Doc cargo to load on July 2-7 was sold to an unknown buyer at a premium above $1 a barrel to the Minas formula, they said, although this could not be confirmed. - PV Oil sold 300,000 barrels of Bintulu crude for July loading at a lower premium than other Malaysian grades, due to weak naphtha cracks and ample supply of light sweet grades, traders said. The cargo to load on July 4-5 was sold to an end-user at a premium near $7 a barrel to dated Brent, a person with direct knowledge of the matter said. - Sakhalin Energy sold 730,000 barrels of light sweet Vityaz crude for July loading via a monthly tender at a slightly higher premium than the previous month on firm demand from Asian refiners, traders said. The cargo to load July 30-Aug. 6 was sold to an unknown buyer at a premium of $5.50 a barrel to Dubai quotes on a cost-and-freight (C&F) Yosu basis. A narrow Brent-Dubai spread likely supported its premium, a trader said. * TRADES - Eni has likely sold its two Kitan cargoes for July to oil majors at between $5 and $6 a barrel below dated Brent, wider than the $4 discount fetched for June. The deals were done earlier this month before naphtha cracks slipped further, a trader said. - BP sold its June North West Shelf (NWS) condensate cargo to Samsung Total at about $7.50 a barrel below dated Brent, about $2 wider in discount compared with last month. At least two more June cargoes are left, plus another four unsold cargoes in July. - BHP sold a July Stybarrow cargo to Chinaoil at $8.50 a barrel above dated Brent, stable from the previous month. * MARKET NEWS - Iranian oil exports have not dropped further in May after falling sharply since March, industry sources said on Tuesday, because core customers in Europe and Asia continue to buy ahead of European sanctions aimed at slowing Tehran's nuclear programme. - Japan's government may provide cover for tankers bringing in Iranian oil once a European Union ban on insurance takes effect in July, Japanese officials said. CRUDE Price Prev Change JULY Brent 107.01 108.42 -1.41 JULY Brent/Dubai EFS DUB-EFS-1M 3.80 3.82 -0.02 PRODUCT CRACKS Price Prev Change JUNE fuel oil crack -3.15 -3.90 0.75 JUNE gasoil crack 15.61 15.69 -0.08 JULY naphtha crack -11.23 -10.89 -0.34 COMPLEX REFINERY MARGINS Today 6.01 Last 5 days 6.20 Last 365 days 7.54

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