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Weekly Summary

Crude/Condensate: Sep 30-Oct 4: ONGC issues Das term sell tender for 2025

Middle East Crude

 In Abu Dhabi grades, Oil and Natural Gas Corp (ONGC) issued a Das term sell tender for 2025. Through the tender that would be closed on Friday with validity until the same day, ONGC was trying to sell 550,000barrels per month. ONGD was an equity-holder of Das. ONGC had sold 500,000 barrels per month in 2023 and 2024 to European Trafigura. The awarded price for 2024 was at premiums in the $0.50's to the OSP.

 

African/European/Russian/American Crude

 Five cargoes (each 920,000bbl) in total of Congo's Djeno planned to be loaded. The supply was about two cargoes less than the previous month, though the background was unclear. Three cargoes (8-9 loading, 17-18 loading and 27-28 loading) were allocated to French Total Energies while one cargo each was allocated to British based Perenco (13-15 loading) and the Congo's government.

 

Asia Pacific Crude

 China National Offshore Oil Corp so far sold Australian NWSC for Nov 18-22 loading in the spot market. The details about the buyer were unknown but the price was said to be at a premium of slightly below $1.00 to Dated Brent on a CFR basis.

 


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