SINGAPORE, Sept 10 (Reuters) - The Asia-Pacific crude oil market remained steady on Monday with Vietnam offering more cargoes for November trade.
VIETNAM
* Vietnam's PV Oil has offered to sell two cargoes of 300,000 barrels each of Chim Sao crude for loading over Nov. 12 to 16 and Nov. 26 to 30, trade sources said.
The tender closes on Sept. 14 and is valid until Sept. 21.
It last sold October-loading cargoes to BP (LON:BP) at a premium of $2.70 to $3.20 a barrel to dated Brent, traders have said.
PAPUA NEW GUINEA
* Two cargoes of Kutubu Light of 600,000 barrels each will likely load in November, steady from the previous months, an industry source said.
Oil Search was last heard to have sold an October-loading Kutubu Light cargo to oil major BP at 20 to 30 cents a barrel above dated Brent, trade sources said.
BRENT-DUBAI EFS
*Brent's premium to Dubai swaps DUB-EFS-1M was at $3.36 per barrel for November.
NEWS
* U.S. Energy Secretary Rick Perry will meet counterparts from Saudi Arabia and Russia starting on Monday, sources familiar with the matter said, as the Trump administration encourages oil-producing countries to keep output up two months before it is due to renew sanctions on Iran's crude exports. Malaysia's Refinery and Petrochemical Integrated Development (RAPID) project, a venture between Petronas and Saudi Aramco, is seeking commitments from banks for a $9.7 billion, 15-year loan, sources told LPC, a fixed income news service. U.S. energy companies cut oil rigs for the second week in three as the rig count has stagnated over the past three months along with crude prices. Global oil demand will peak in 2023 as electric vehicles (EVs) become competitive with cars fuelled by petrol and diesel, and after 2040 no new oil developments will likely be needed, quality assurance and risk management firm DNV GL said on Monday. China's crude oil imports rose 6.5 percent in August from a month earlier to their highest since May, boosted by a rebound in demand from smaller, independent refiners, customs data showed on Saturday. Hedge funds and money managers upped bullish bets on U.S. crude to the highest level in nearly a month as prices climbed on expectations that falling Iranian output will tighten global supplies once a second round of U.S. sanctions start on Nov. 4. Iran will reimburse French oil and gas major Total TOTF.PA for its investment in the South Pars natural gas field but not until phase 11 of the multibillion-dollar project becomes operational, Iranian Oil Minister Bijan Zanganeh said on Saturday. 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