SINGAPORE, Nov 23 (Reuters) - Spot premiums for heavy grades in the Asia-Pacific crude market rose on support from stronger fuel oil margins, traders said on Friday.
Two January-loading Van Gogh cargoes have been sold at premiums of more than $1 a barrel to dated Brent, likely to Mitsui and Vitol, traders said.
BHP has also sold a Pyrenees cargo for January loading at a premium of about $4 a barrel to dated Brent, they said, up from a premium of $2.50-$3 a barrel in the previous month.
Condensate remained weighed down by weak naphtha cracks. Woodside has sold its January-loading North West Shelf (NWS) condensate at $4-$4.50 a barrel below dated Brent, similar to an earlier deal by BHP, traders said.
China's Fuhaichuang has bought a cargo of Alen condensate from Glencore (LON:GLEN), they added.
For Malaysian grades, Petronas has issued a tender to sell Bertam crude, while ConocoPhillips (NYSE:COP) closed a tender on Friday to sell a Kimanis cargo, although the result was not immediately known.
Brent's premium to Dubai swaps DUB-EFS-1M was at $1.25 per barrel for January, little changed from the previous day.
TENDERS COUNTRY/COMPANY
GRADE
VOL
CLOSE (VALID)
LOADING DATE **VIETNAM/PV OIL
s:Bunga Kekwa 300KB
Nov 27 (Dec 4)
Jan 13-19 **MALAYSIA/PETRONAS s:Bertam
300KB
Nov 23 (Nov 26) Jan 24-28 VIETNAM/PV OIL
s:Su Tu Den
350KB
Nov 21 (Nov 23) Jan 25-29 **INDONESIA/PERTAMI b:sweet
600KB
Nov 21 (Nov 23) Jan 21-25 arr NA
Balongan **MALAYSIA/CONOCO
s:Kimanis
600KB
Nov 23
Jan 28-Feb 1 VIETNAM/PV OIL
s:Ruby
300KB
Nov 15 (Nov 22) Jan 17-24 **THAILAND/PTT
b:sweet
300KB
Nov 21 (Nov 22) Jan 15-Feb 15
-1000KB
arr **TAIWAN/CPC
b:sweet
Nov 20 (Nov 22) Feb arr **VIETNAM/PETRONAS s:Bunga Orkid 300KB
Nov 21
Jan 22-28 INDONESIA/PERTAMINA b:sweet
2*600KB Nov 16 (Nov 20) Jan arr
Balongan TENDERS AWARD
COUNTRY/COMPANY
GRADE
VOL
COUNTERPARTY/PRI LOADING DATE
CE
*CHINA/FUHAICHUANG b:Alen cond
60KT
Glencore
Jan 25-31 arr *VIETNAM/PV OIL
s:Chim Sao
2*300KB Glencore, BSR
Jan 10-14,
DTD +$4-$4.5
26-30
REFINERY
French trade unions CGT and FO on Thursday rejected a 1.5 percent salary increase offer by employers and called on their members to intensify a strike at French refineries and depots with a shutdown of production and distribution. Southern (NYSE:SO) Africa (BPSA) will invest $1 billion in South Africa in the next five years with more than a quarter of that set aside to upgrade the SAPREF refinery to produce lower sulphur diesel, its chief executive said. gasoline exports in October fell to their lowest in 13 months amid a glut of the fuel in Asia and globally, customs data showed. Indian refiner Nayara Energy is set to secure its biggest fuel-backed loan, a $1.5 billion advance from Trafigura, BP (LON:BP) and some banks, according to industry and banking sources familiar with the matter. Arabian Energy Minister Khalid al-Falih said on Thursday that he sees weak oil demand in January and said the kingdom would respond accordingly to cool the global market's anxiety. is willing to buy trains itself to help clear a backlog of crude oil if Ottawa decides not to back the Canadian province's proposal to split the costs of new rail cars, Premier Rachel Notley said. oil exports have dropped by several hundred thousand barrels per day (bpd) this month, a leading tanker-tracking company said on Thursday, suggesting U.S. sanctions that kicked in this month have scared off many buyers. state oil company Ecopetrol on Thursday rushed to stop an oil spill that threatens to pollute waterways in northeastern Colombia, after a new attack on the Cano Limon-Covenas pipeline, the company and military authorities said. of the Singapore unit of Hong Kong-listed Brightoil Petroleum Holdings have filed two lawsuits and an order to liquidate the company in the city-state's High Court, court documents requested by Reuters showed. 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
NAF-SIN-CRK
Complex refining margins REF/MARGIN1