RTRS:Asia-Pacific Crude-Weak as Shell Singapore plans partial shutdown
June 6 (Reuters) - Sentiment in the Asia-Pacific crude
market weakened further on Wednesday on expectations supply
would increase as Royal Dutch Shell Plc plans to
partially shut its Singapore refinery for maintenance.
Shell plans to close a 110,000 barrels per day (bpd) crude
distillation unit for a month at its 500,000 bpd plant in the
city state, traders said. The maintenance will also include a
35,000 bpd hydrocracker, a reformer unit and one other secondary
unit, one of the sources said.
Shell last week re-offered Chim Sao cargoes bought via
tenders for June-July as it purchased prompt Bach Ho crude
released by PV Oil after an outage at Vietnam's refinery.
Indonesia, a key regional crude producer, said output in
2012 would fall 20,000 bpd on the year to 910,000 bpd.
The country is aiming to boost oil output to around 1
million bpd over the next two years, R Priyono, chairman of
Indonesia's oil and gas regulator BPMigas told reporters on the
sidelines of an industry event in Malaysia.
* MARKET NEWS
- Top Chinese refineries will increase crude oil processing
in June, gaining for a second month after runs sank to a
34-month low in April, a Reuters poll showed, as a resumption of
normal operations at two big plants offset moderate cuts in
others.
- Japanese refiner Cosmo Oil Co said it had taken
the precautionary step of halting marine berthing operations at
its 220,000 barrels per day refinery in Chiba, east of Tokyo,
because of a typhoon passing the country.
Operations were halted from around noon (0300 GMT) on
Wednesday, a company spokesman said. The typhoon had not
affected the plant's oil refining and truck oil product shipping
operations, he added.
- The full start up of Malaysia's 135,000 barrels per day
(bpd) Gumusut-Kakap deepsea oilfield has been delayed to the
second half of 2013 from 2012, an official at Malaysia's state
energy firm Petronas said.
CRUDE Price Prev Change
JULY Brent 99.58 98.06 1.52
JULY Brent/Dubai EFS DUB-EFS-1M 3.30 3.10 0.20
PRODUCT CRACKS Price Prev Change
JULY fuel oil crack -4.26 -4.34 0.08
JULY gasoil crack 15.53 15.82 -0.29
JULY naphtha crack -12.02 -12.17 0.15
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