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Asia-Pacific Crude-Steady as Malaysian crude offered in spot

Published 18/10/2018, 09:25 pm
© Reuters.  Asia-Pacific Crude-Steady as Malaysian crude offered in spot
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SINGAPORE, Oct 18 (Reuters) - The Asia-Pacific crude oil market remained steady on Thursday with Petroleum Brunei offering a cargo for December through tender, industry sources said.

MALAYSIA

* Petroleum Brunei has offered 600,000 barrels of Kimanis crude for loading over Dec. 8 to 12.

The tender closes on Oct. 18.

Malaysia is expected to load 10 cargoes of Kimanis crude in December, down 1 cargo from the previous month, industry sources said. EFS

* Brent's premium to Dubai swaps DUB-EFS-1M was at $2.60 per barrel for December.

NEWS

* An unprecedented volume of Iranian crude oil is set to arrive at China's northeast Dalian port this month and in early November before U.S. sanctions on Iran take effect, data on Refinitiv Eikon showed on Thursday. State oil giant Saudi Aramco signed an agreement on Thursday to invest in a refinery-petrochemical project in eastern China, part of its strategy to expand in downstream operations globally. Abu Dhabi National Oil Company (ADNOC) started producing and exporting a new crude grade known as Umm Lulu this month, a company spokesman said. new oil will help lift ADNOC's oil exports after the Organization of the Petroleum Exporting Countries (OPEC) and Russia pledged to increase output to stabilise global oil markets following disruptions in supplies from several producers, including Iran and Venezuela.

* The United States plans to turn up sanctions pressure on Venezuela but sees less need to immediately target its energy sector, given sagging production from the OPEC member's state-run oil company, a senior U.S. administration official said on Wednesday. Royal Dutch Shell (LON:RDSa) has agreed to sell its Danish upstream business to Norwegian Energy (Noreco) NOR.OL in a deal valuing the assets at $1.9 billion, as part of its wider divestment strategy, the company said on Wednesday. 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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