SINGAPORE, June 21 (Reuters) - Vietnamese crude premiums fell further on Thursday with Chim Sao sold at lower levels as large arbitrage inflows and refinery maintenance in Australia and Malaysia reduced crude produced in the region, traders said.
VIETNAM: PV Oil sold three Chim Sao cargoes loading in August to BP and Unipec at $1.50-$2.50 a barrel above dated Brent, they said. The grade last traded at premiums of $2.50-$2.90 a barrel.
MALAYSIA: Kimanis crude spot premiums rose for cargoes loading in August versus the previous month as exports are set to fall, traders said. ConocoPhillips sold an August-loading Kimanis crude cargo via a tender at a premium of $3.70-$3.80 a barrel to dated Brent, traders said, versus $3.60 in the previous month. The deal could not be verified. More Malaysian and Indonesian grades have been offered in tenders to close by the end of this week.
RUSSIA: Spot premiums for Russian Sakhalin Blend crude are at their lowest this year after the margins for producing naphtha hit a two-month trough, trade sources said.
Sakhalin Energy has sold five cargoes loading in September to October at $2.80-$3.20 a barrel above Dubai quotes, they said, down from $3.70-$3.80 last month.
Cargoes loading between Sept. 5 and Sept. 11 and Sept. 20-26 were sold to term buyers from Japan and South Korea, while cargoes loading on Sept. 12-18, Sept. 27-Oct. 3, Oct. 3-9 were sold on a spot basis to buyers from South Korea and China.
Separately, ONGC has sold a Sokol cargo loading on Aug. 18-24 to SK Energy at $4.70 a barrel above Dubai quotes. This was likely the highest premium fetched for this grade this month.
BRENT-DUBAI EFS *Brent's premium to Dubai swaps DUB-EFS-1M was at $3.50 per barrel, down 43 cents for August.
TENDERS
COUNTRY/COMPANY GRADE VOL CLOSE (VALID) LOADING DATE **MALAYSIA/PETRONA Bentara 150KB June 22 (June 25) Aug 15-19 S
VIETNAM/PETRONAS Bunga Orkid 300KB June 22 (June 25) Aug 9-15 **INDONESIA/EXXON Banyu Urip 300 or June 22 (June 22) Aug 23-25
600KB
MALAYSIA/PETRONAS Muda 300KB June 21 (June 22) Aug 13-19
condensate
MALAYSIA/PETROLEUM Kimanis 600KB June 21 Aug 17-21
BRUNEI
VIETNAM/PV OIL Chim Sao 3*300KB June 14 (June 21) Aug 1-5,
10-14, 20-24
MALAYSIA/CONOCOPHI Kimanis 600KB June 20 Aug 10-14
LLIPS
BAHRAIN/BAPCO Banoco AM 500KB June 14 (June 18) Aug TENDERS AWARD
COUNTRY/COMPANY GRADE VOL COUNTERPARTY/PRIC LOADING DATE
E
*RUSSIA/SAKHALIN Sakhalin 5*500KB China, South Sept 5-11,
ENERGY Blend Korea, Japan 12-18, 20-26,
Dubai +$2.8-$3.2 Sept 27-Oct 3,
Oct 3-9
*RUSSIA/ONGC Sokol 700KB SK Energy Dubai Aug 18-24
+$4.7
NEWS
Iran signalled on Wednesday it could compromise on a small increase in OPEC oil output when the group meets this week, as Saudi Arabia scrambled to convince fellow members of the need for a larger rise in production.
Oil markets are bracing for a reshuffle of global trade flows as China threatens to impose tit-for-tat tariffs on imports of U.S. energy products, including crude.
OPEC, which has lost Chinese market share to U.S. oil producers, should in theory view a tariff spat between Beijing and Washington as a boon. But while OPEC can sell more oil to China as a result of import tariffs on U.S. crude, in the long term the trade dispute could hit economic growth and oil demand, OPEC officials and oil executives said.
Australia's largest supermarket operator Woolworths Group Ltd cancelled a A$1.8 billion ($1.3 billion) sale of its petrol stations to BP Plc BP.L on Thursday, after it was blocked by Australia's antitrust regulator.
Venezuelan PDVSA's oil exports fell 32 percent in the first half of June compared with May, according to internal trade reports from the state-run company, as deepening output declines and seizures of some Caribbean assets disrupted crude and fuel shipments.
Nexen Energy, a unit of China's CNOOC Ltd, said on Wednesday that it would move ahead with the construction of its C$400 million ($300.5 million) Long Lake Southwest expansion project in northern Alberta.
For 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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Asia Middle East Europe
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Japan
Japan US Europe
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