Ukraine's Odessa Gets First WTI Oil Cargo from US
Ukraine's Black Sea port of Odessa is set to receive on Wednesday its first ever West Texas Intermediate (WTI) oil cargo from the United States, according to industry sources and shipping data, just a month after the front-month futures for the blend turned negative.U.S. West Texas Intermediate (WTI) May crude futures sank to minus $38 per barrel on April 20…
European Refiners Leave Oil Cargoes On Water
A growing number of oil tankers across Europe have been unable to unload their cargo over the past month as refining demand crashes, turning them into de facto floating storage, according to shipping data and trading sources.European refineries have had to cut runs after measures put in place to contain the coronavirus outbreak crushed fuel demand.More than 25 tankers with roughly 18 million barrels onboard were anchored near European ports…
U.S. Oil Makes it to Ukraine, a blow to Moscow
U.S. crude exports are gaining traction in Europe as even Ukraine turns into a significant consumer of American barrels at the expense of Russian supplies amid heightened U.S. political pressure on Moscow and problems over contaminated Russian oil.Ukraine this month received its first ever barrels from the United States, according to Refinitiv Eikon flows data…
Tainted Oil Set for Russian Refineries, Ports After Dilution
More than a million tonnes of contaminated oil from Russia's Druzhba ("Friendship") pipeline, expected to be shipped back from Belarus, will end up at Russian refineries and export ports after being diluted to usable levels, sources have told Reuters.The pipeline was halted in April after excessive levels of organic chloride used in oil extraction were found…
As Traders Tussle Turkmenistan Cuts Exports
A clash between trading house Vitol and Azerbaijan's SOCAR over Caspian Sea oil shipments is forcing Turkmenistan to slash exports of crude due to a lack of tankers.Turkmenistan typically exports about 200,000 tonnes of oil per month via the Caspian to world markets, mainly from fields operated by the UAE's ENOC and Italy's Eni, but flows have halved in recent weeks…
Trafigura to Boost Urals Crude Liftings
Oil trader Trafigura will regain its position as the largest buyer of seaborne crude from Russia's Rosneft, trading sources told Reuters on Friday, expanding their partnership as Rosneft reduces its dealings with Vitol and Glencore. Three trading sources told Reuters that Trafigura would increase its dominance in Rosneft’s Urals oil trading from April when Rosneft’s 5-year pre-finance deal with Vitol and Glencore expires.
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.
Russia to Reduce Urals Oil Exports from Baltic Ports
Russia will export 2.9 million tonnes of Urals crude oil from the Baltic ports of Primorsk and Ust-Luga on November 1-16, down 0.8 million tonnes from the same period of October, according to a preliminary schedule, seen by Reuters. Russia will increase Urals and Siberian light oil exports from the Black Sea port of Novorossiisk by 0.36 million tonnes to 1.6 million for November 1-18, the schedule showed.
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. * Surgut offered 100,000-tonne cargoes for loading in Primorsk on Nov.
Vitol Wins $1 bln Prefinance Deal for KMG share in Kashagan
KMG Kashagan (KMG), a subsidiary of Kazakh national oil company Kazmunaygaz, has picked trader Vitol to arrange a prepayment for KMG's share in the Kashagan field oil worth $1 billion, KMG said in a statement on its website. KMG, which holds 16.88 percent in the giant offshore field, closed the tender to select a trader to arrange prepayment for its crude oil on Aug. 3, it said without providing any other details.
Poland's Refineries Up Mideast Oil Intake, Squeeze Russia's Urals
Oil refineries in Poland have increased the amount of sea borne crude it receives from the Middle East at the expense of Russian flagship blend Urals, Reuters tracking data showed on Tuesday. According to the data, Poland's Baltic Sea port of Gdansk will receive at least five cargoes from Iraq and Saudi Arabia, with total volumes of almost 500,000 tonnes in July.
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…
Russia to Increase Q2 Baltic Urals Shipments
Russia is set to increase Urals exports and transit from its Baltic Sea ports by 0.7 million tonnes to 19.9 million tonnes in the second quarter, an export schedule showed on Thursday. According to the schedule, Urals shipments from the Black Sea port of Novorossiisk are set to fall to 7.55 million tonnes, down from 7.9 million tonnes in the previous quarter. Reporting by Gleb Gorodyankin and Olga Yagova
CPC Pipeline to Boost Oil Exports in 2016
The Caspian Pipeline Consortium (CPC), which brings oil from Kazakhstan to the Black Sea, plans to increase exports of CPC Blend oil by 20 percent year-on-year to 51.2 million tonnes in 2016, its head Nikolai Brunich said in an interview with Reuters. The pipeline connects the giant Tengiz onshore field in Kazakhstan, and a number of other fields, to the sea terminal near Novorossiisk in Russia.
Novatek Starts ESPO Blend Exports From Kozmino
Novatek started exporting ESPO Blend for the first time from the Far-Eastern port of Kozmino in January, traders said. The company sold 60,000 tonnes of ESPO Blend to trading company Concept Oil, which creates export cargoes for small oil producers in East Siberia, market participants said. ESPO Blend cargoes for small producers are sold on the Asian market by Swiss-based trading company Tenergy.
Head of Rosneft's Trading Unit to Join Trafigura
Marcus Cooper, the head of the Swiss-based trading unit of Russia's top oil producer Rosneft is leaving the company to join Swiss commodities trader Trafigura, market sources told Reuters on Thursday. Cooper, a former veteran of British oil firm BP, which ended up with an almost 20 percent stake in Rosneft after the TNK-BP deal, joined Rosneft in 2013. Rosneft declined to comment and Trafigura was not immediately available to comment.
Russia to cut Baltic December Oil Exports
Russian Urals crude oil exports from Baltic Sea ports are seen declining next month, a preliminary loading schedule showed on Tuesday. Urals supplies from the Baltic Sea ports of Primorsk and Ust-Luga will edge down by 0.1 million tonnes and 0.4 tonnes respectively, the schedule showed. Reporting by Gleb Gorodyankin
Kurdish Oil Reaches Baltic, Targets Russian Markets
Iraq's semi-autonomous region of Kurdistan has begun targeting Baltic crude markets in north-western Europe, rivalling traditional Russian supplies and increasing an oil glut in the region, trading sources said and shipping data showed. At least three vessels with Kurdish oil arrived in the Baltic ports of Gdansk in Poland and Butinge in Lithuania in October-November, traders told Reuters.
Russian Urals Exports Seen Higher From Baltic
Russia is seen increasing its exports of Urals crude oil from its Baltic ports in the fourth quarter, while shipments from Novorossiisk on the Black Sea are expected to decline, a loading schedule showed on Wednesday. On the Baltic, Urals exports from Primorsk are expected to rise to 12.8 million tonnes in the fourth quarter from 12.4 million tonnes in the third quarter…
Rosneft to Sell Up to 0.4 mln Tonnes of Urals
Russia's Rosneft plans to sell up to 0.4 million tonnes of Urals crude in a spot tender, with delivery slated for November, two trading sources told Reuters on Friday. They added that the spot tender would be for deliveries from Russia's Baltic Sea ports. (Reporting by Gleb Gorodyankin; Writing by Katya Golubkova)
