Crude Margins, Demand, Arbitration Impact Crude Differentials
Urals and CPC Blend differentials rose on Thursday on strong margins and regional demand, while arbitrage flows of Urals and CPC Blend to Asia provided additional support, traders said. In the Platts window, BP bought from Vitol 100,000 tonnes of Urals crude for Aug. 16-20 loading at minus $0.55 a barrel to dated Brent. That was up by some 25 cents from Wednesday assessments for the grade.
Surgut Awards Gunvor With Up to 1.0 mln T of Gasoline From Ust-Luga-trade
Russia's Surgutneftegaz has sold Gunvor an up to 1.0 million tonnes of normal gasoline (motor gasoline A-76) from its Kirishi refinery at a tender, to be delivered in April-December from the Baltic Sea port of Ust-Luga, traders said. Market sources estimated the discount level stronger than minus $45 a tonne. Surgut's pricing formula is based on the mean of the five mean consecutive quotations of Eurobob…
Surgut sells Total 400,000t of Baltic Urals crude in Nov
Surgutneftegaz awarded 400,000 tonnes of Urals crude to Total in a spot tender for loading from the Baltic Sea ports of Primorsk and Ust-Luga early in November, traders said. * The cargoes were placed at a discount of some $2.40-$2.45 a barrel to dated Brent, when adding freight to the original FOB-basis price, they said. * The tender closed on Oct. 18 at 14:00 Moscow time.
Surgutneftegaz Holds First Tender to Sell Fuel Oil
Russian energy company Surgutneftegaz has called its first ever export tender to sell up to 5.6 million tonnes of fuel oil, originating from its Kirishi refinery, for delivery in June-December 2016, trading sources said. The company is offering from 150,000 to 800,000 tonnes of strait-run fuel oil per month with a sellers option. Surgutneftegaz also offered to sell from zero to 150…
Surgutneftegaz Says Cash Pile Grows 31% in 2015
Cash reserves of Russia's third-largest oil producer Surgutneftegaz increased by 31.2 percent to 2.42 trillion roubles ($35.8 billion) in 2015, Interfax news agency reported on Wednesday. It also said that Surgut's 2015 net income under Russian Accounting Standards declined to 751.4 billion roubles from 891.7 billion roubles in 2014. (Reporting by Vladimir Soldatkin)
Med Crude-Russian Urals Edges Lower in Med, Baltic
Russian Urals crude weakened in the Mediterranean and in the Baltic on Friday, while trading activity was limited ahead of a long holiday weekend in Britain, traders said. In the Platts window, Vitol sold an 80,000-tonne cargo of Urals from Novorossiisk on Sept. 13-17 to Exxon at dated Brent minus $0.85 a barrel on a DES basis, traders said. That was 15 cents below the latest price estimates for the grade.
Urals Weakens in Med, Baltic as Sept Cargoes Emerge
Russian Urals crude weakened further on Monday in the Mediterranean and the Baltic under pressure from abundant supplies and as oil firms began to tender fresh September supplies. In the Platts window, Tenergy sold a cross-month Urals cargo in the Mediterranean to Eni at dated Brent minus $1 per barrel, some 20 cents weaker than previous price estimates, traders said.
Surgut sees steady output as new fields come on line
Russia's third-largest oil producer Surgutneftegaz is targeting steady oil output in the medium term, banking on the development of new fields to offset depleting assets elsewhere, the company said on Saturday. Last year Surgut, with production mostly in West Siberia, produced 61.4 million tonnes or 1.23 million barrels per day. In a statement on its website…
Surgut Awards Glencore Right to Crude Oil in Tender
Russia's third-largest oil producer Surgutneftegaz has awarded Glencore the right to lift 1.2 million tonnes of crude oil from Russian Baltic Sea ports, traders said on Thursday. The cargoes, 200,000 tonnes a month, can be lifted between July and December this year. (Reporting by Gleb Gorodyankin; writing by Vladimir Soldatkin)
Med Crude-Urals Stronger in Baltic as Surgut Sells Cargoes
Russian Urals crude price differentials strengthened in the Baltic in a spot tender on Tuesday after loading schedules confirmed scarce export volumes for May. There was no deals in the Platts window, traders said while adding that trader Talmay won spot tenders by oil firm Surgut to lift two cargoes of Urals loading at the Baltic port of Ust-Luga. The…
Cash Reserves Up 80% at Russia's Surgut
The cash reserves at Russia's third-largest oil producer Surgutneftegaz have swelled 80 percent to 1.8 trillion roubles ($31.2 billion), company data and Reuters calculations showed on Monday. At the end of 2013, Surgutneftegaz's cash pile, which includes bank deposits and cash on hand, had stood at 1.02 trillion roubles. Reporting by Olesya Astakhova
Lukoil Wins 6-month Urals Crude Oil Tender from Surgut
The trading arm of Russian energy giant Lukoil has won a major six-month Urals crude oil tender from Surgutneftegaz, three trade sources said on Wednesday. The tender will provide Lukoil's trading arm, Litasco, with 1.2 million tonnes of Urals crude over the period, the equivalent of almost 50,000 barrels per day. The sources said the tender was awarded at between 30 and 40 cents a barrel above the formula price.
Cash Hoard at Russia's Surgut Swells to $30 billion
The cash reserves of Russia's third-largest crude oil producer Surgutneftegaz climbed 27 percent to 1.3 trillion roubles ($30 billion) in the nine months to September, company data and Reuters calculations showed on Friday. At the end of 2013, Surgutneftegaz's cash pile, which includes bank deposits and cash on hand, had stood at 1.02 trillion roubles.
Russian Oil Giant Has No Sanction Worries
While most Russian oil tycoons and Kremlin energy officials are calculating billions of losses that could result from Western sanctions, one of them is counting his blessings. Vladimir Bogdanov's Surgutneftegas has no Western debts, no foreign partners on its huge Siberian fields and uses no Western drilling technology, making it virtually immune to sanctions imposed on Russia to try and persuade it to change course over Ukraine.
Surgut Offers 300,000 tonnes of Urals Crude in Oct via Tender
Russia's Surgutneftegaz tenders to sell 300,000 tonnes of Urals crude loading at the Baltic ports of Primorsk and Ust-Luga in October, industry sources told Reuters. The company offered one 100,000-tonne cargo loading from Primorsk on Oct. 1-2 and two steams of the same size from Ust-Luga on Oct. 2-3 and 5-6. The tender closes on Sept. 17. To see Russian Urals grade preliminary loading plan for the first 6 days of October click on.
Russia's August Oil Production Rises
Russian oil output rose 1 percent in August to 10.52 million barrels per day (bpd), supported by an increase in condensate production at Gazprom and projects with foreign companies, Russian Energy Ministry data showed. Production in Russia, which includes crude oil and gas condensate, was still the world's highest in August. Its closest peer, Saudi Arabia, produced an average 9.75 million bpd last month, a Reuters survey showed.
Med Crude-Urals Rallies in the Baltic in Surgut Tender
Russian Urals crude ended the week on a strong note in the Baltic with oil firm Surgut allocating two cargoes loading in mid-September at almost $1 per barrel stronger than prices at the start of the week. Surgut awarded 200,000 tonnes of Urals to Shell in a spot tender for lifting from the Baltic Sea port of Ust-Luga on Sept. 18-19 and from the nearby Primorsk on Sept. 19-20 at around dated Brent minus $1.0 a barrel, traders said.
Russia's Surgut H1 Net Profit Down 19%
Russia's Surgutneftegaz posted 134.1 billion roubles ($3.6 billion) in net profit for the first six months of the year, down 19 percent from a year ago, the company said on Friday. In the same period of last year, Surgut saw a net profit of 165.6 billion roubles. The company said its revenues reached 470.1 billion roubles, up from 392.3 billion roubles a year ago.
Med Crude-Urals Stronger in Tenders as Margins Recover
Russian Urals crude strengthened in the Baltic on Tuesday after eight straight weaker sessions as healthy refining margins prompted European refiners to resume buying. There was no deals, bids or offers in the Platts window, traders said. In tender news, oil firm Surgut was believed to have sold four early September cargoes in the Baltic at prices slightly stronger than previous market estimates. Total bought a Sept.
Russian Oil Prices Below $100/Barrel
Russian Urals crude weakened for an eight straight trading day on Monday due to weak European refining demand, falling well below $100 a barrel for the first time in a year in a move to increase the pain for Russian state finances amid Western sanctions. Russia has balanced its budget at $114 a barrel this year as President Vladimir Putin is ramping up social military spending amid a conflict in Ukraine…
