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Asia-Pacific Crude-Indonesia seeks condensate for splitter

Published 04/09/2018, 07:29 pm
Updated 04/09/2018, 07:30 pm
© Reuters.  Asia-Pacific Crude-Indonesia seeks condensate for splitter
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SINGAPORE, Sept 4 (Reuters) - The Asia-Pacific crude market remained steady on Tuesday with traders focused on upcoming crude loading programmes.

INDONESIA

* Indonesia's Pertamina is seeking condensate for delivery over October and November, trade sources said. The tender closed on Sept. 3 and is valid until Sept. 5.

It last sought condensate for September delivery but that tender has not yet been awarded due to limited availability of condensate, an industry source said.

Pertamina is yet to decide if will ramp up production at its TPPI splitter as it will depend on the economics of importing condensate, the source added.

THAILAND

* Thailand's PTT is seeking sweet crude on behalf of IRPC for delivery in November, trade sources said. The tender closes on Nov. 5 and is valid until Nov. 6.

PTT did not award its previous tender and instead bought a cargo through private negotiations, traders have said.

BRENT-DUBAI EFS

* Brent's premium to Dubai swaps DUB-EFS-1M was at $3.13 a barrel for November, down 3 cents from the previous session.

NEWS

* India is allowing state refiners to import Iranian oil with Tehran arranging tankers and insurance after firms including the country's top shipper Shipping Corp of India (SCI)halted voyages to Iran due to U.S. sanctions, sources said. Workers with two state-owned Chinese oil developers fought with sticks, shovels and Molotov cocktails in a dispute over prospecting rights in the northwest province of Shaanxi, the state-run tabloid Global Times reported late on Monday. Asian refining margins for 10ppm gasoil surged to their highest in about three years on Tuesday. Anadarko Petroleum Corp (NYSE:APC) said on Monday that it had evacuated workers and shut production at two oil platforms in the northern Gulf of Mexico ahead of the approach of Gordon, which is expected to come ashore as a hurricane. Varo Energy has declared force majeure on fuel deliveries to its customers after a fire on Saturday at its Bayernoil refining complex in Germany, a spokeswoman said on Monday. The world crude oil market is currently balanced, Algerian Energy Minister Mustapha Guitouni said on Monday ahead of a meeting of producers in Algiers. crude prices, oil product cracks and refining margins, please click on the RICs below.

Brent

BRENTSGMc1

Dubai

DUBSGSWMc2

Brent/Dubai EFS

DUB-EFS-1M

PRODUCT CRACKS

Fuel oil crack

FO180SGCKMc1

Gasoil crack

GOSGCKMc1

Naphtha crack

NAFOBSGCKMc1

Complex refining margins REF/MARGIN1

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