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Weekly Summary

Crude/Condensate: Jul 12-16: Sep Kimanis, Conoco sells one cargo

Middle East Crude

In tender related news, India IOC was said to have bought Abu Dhabi Murban, Iraqi Basrah Light and Basrah Medium for Middle Eastern grades in its crude buy tender for end-August to September loading closed on Thursday. The Murban was 1.0 million bbl and British BP was said to have sold the Murban. Meanwhile, European Trafigura heard sold Basrah Light and Basrah Medium.


African/European/Russian/American Crude

India's Oil was said to have purchased at least 4.0 mil bbl of arbitrage cargoes on top of Middle Eastern grades in its end-August to September loading crude buy tender. IOC purchased Norway's Johan Sverdrup from Norway's Equinor, Nigerian Agbami from Chevron, Cameroon's Kole from European Vitol and Brazilian Sapinhoa from Royal Dutch Shell.


Asia Pacific Crude

The spot market for September-loading Malaysian Kimanis rose to premiums of $3.00-3.10 to DTD Brent. Crack spreads for middle distillates in Asia improved, which buoyed the Kimanis market. US Conoco Phillips sold one cargo of September-loading Kimanis. The buyer was said to be China's Hengyi Industries and the price was apparently at a premium of slightly above $3.00 to DTD Brent.


Tokyo : Crude/Condensate Team  Hashimoto   +81-3-3552-2411Copyright © RIM Intelligence Co. ALL RIGHTS RESERVED.