SINGAPORE, Nov 7 (Reuters) - The Asia-Pacific crude market held steady on Wednesday as traders focused on Indonesia and Vietnam tenders.
INDONESIA: Pertamina has issued a tender to buy a spot condensate cargo for TPPI to be delivered in January, traders said.
The tender could help soak up some of the surplus North West Shelf (NWS) cargoes loading in December, they said.
Separately, Pertamina is targeting 2019 crude oil output at 414,000 barrels per day (bpd) and natural gas output at 2,944 million cubic feet per day (mmcfd), a company official said. crude oil output from January to September this year was 384,000 bpd on average, versus a full-year target of 400,000 bpd, Pertamina upstream planning chief Meidawati told reporters.
In Indonesia's upstream sector, the government has decided to award 20-year contract extensions from 2022 to three existing oil and gas block operators, Deputy Energy Minister Arcandra Tahar said. Brunei has set the September official selling prices for Seria Light and Champion crude at $81.35 a barrel, up $6.35 from the previous month.
RUSSIA: ONGC Videsh has sold a Russian Sokol crude cargo loading in January, the second for the month, at a steady premium from the previous deal, trade sources said.
The cargo to load on Jan. 15-21 was sold to Vitol at $4.90-$5 a barrel above Dubai quotes, they said.
BRENT-DUBAI EFS
*Brent's premium to Dubai swaps DUB-EFS-1M was at $1.61 per barrel, down 17 cents for January.
TENDERS COUNTRY/COMPANY GRADE
VOL
CLOSE (VALID)
LOADING DATE VIETNAM/PV OIL
s:Bach Ho
10KBD
Oct 22 (Nov 15)
Jan-June 2019
(API 38-40)
VIETNAM/PV OIL
s:Bach Ho
20KBPD
Oct 22 (Nov 15)
Jan-March
(API 33-35)
2019 VIETNAM/PV OIL
s:Bach Ho
30KBPD
Oct 22 (Nov 15)
April-June
(API 28-35)
2019 **INDONESIA/PERT b:condensate 600-650KB
Nov 8 (Nov 12)
Jan 10-12 arr AMINA
VIETNAM/PV OIL
s:Hai Thach 1000-1200KB Oct 16 (Nov 1)
Jan-June 2019
condensate
TENDERS AWARD
COUNTRY/COMPANY GRADE
VOL
COUNTERPARTY/PRICE LOADING DATE *RUSSIA/ONGC
s:Sokol
700KB
Vitol Duba+$4.9-$5 Jan 15-21
NEWS
U.S. crude oil production is expected to average 12.06 million barrels per day (bpd) in 2019, passing the 12 million bpd milestone sooner than expected on surging domestic shale output, the U.S. Energy Information Administration said. said on Tuesday it had so far been able to sell as much oil as it needs despite U.S. pressure, but it urged European countries opposed to U.S. sanctions to do more to shield Iran, as Russia and Turkey also voiced their objections. plans to increase its oil output and export capacity in 2019, with a focus on its southern oilfields, and is close to reaching a deal with international companies, Oil Minister Thamer Ghadhban said. oil major PetroChina inked 2019 annual crude supply deals with state-owned producers Saudi Aramco and Kuwait Petroleum Corp on Wednesday at a public signing ceremony during the China International Import Expo in Shanghai. wants its Western oil buyers to accept new terms and pay penalties from 2019 if they fail to pay for supplies in the event that new U.S. sanctions on the Russian energy major disrupt its oil sales, according to trading sources and Rosneft's draft contracts. crude production was in "free-fall" and could soon fall below 1 million barrels per day (bpd), the International Energy Agency's Executive Director Fatih Birol said. crude prices, oil product cracks and refining margins, please click on the RICs below.
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