Middle East Crude

　In Iran, three condensate splitters currently process South Pars along with other domestically produced small-scale condensates. Meanwhile, some cargoes of South Parts were exported to mainly China and Venezuela. Further, other cargoes were also exported to Southeast Asia such as Malaysia. One trader in Singapore reckoned that once South Pars were unloaded to storage facilities in Malaysia, they were re-exported to China.

African/European/Russian/American Crude

　Dangote group with the largest refinery in Nigeria, or 650,000 barrels per day (b/d), purchased WTI Midlands for early September arrival. The company procured two VLCCs or 4.0 mil bbls of WTI and one Suezmax veseel or 1.0 mil bbl of WTI. The prices were unknown but the seller for the VLCC was said to be European Vitol and the other for Suezmax vessel was European Gunvor.

Asia Pacific Crude

　In trade for September-loading Malaysian grades, a supply program of September-loading Kimanis has been settled on Wednesday and three cargoes will be available, which was one cargo less than August-loading. Of these, Malaysia's state-owned Petronas handles one cargo for Sep 8-10 loading and Briton's Shell handles one cargo for Sep 20-24 loading while US Conoco Philipps has one cargo for Sep 26-30 loading. With maintenance at the Kimanis offshore oil field ongoing, the production of Kimanis has been decreasing since August-loading although six to seven cargoes are usually supplied in a month. Under such circumstances, concerns were growing that supply/demand fundamentals for September-loading Kimanis might tighten.