Asia-Pacific Crude-PV Oil Sells Nov Ruby, Bunga Orkid At Higher Premiums

Asia-Pacific Crude-PV Oil Sells Nov Ruby, Bunga Orkid At Higher Premiums

Asia-Pacific crude premiums stayed firm on Tuesday after the remaining Vietnamese barrels for November-loading were sold at higher levels from a month earlier. Regional crude premiums have been boosted by limited arbitrage opportunities and strong demand for short-distance cargoes in a backdated market, traders said.

VIETNAM: PV Oil sold two 300,000-barrel cargoes for November loading at premiums of about $3.50 a barrel to dated Brent, about $1 higher than the previous month. It sold Ruby crude to Unipec, while the buyer of the Bunga Orkid cargo was not immediately known.

AUSTRALIA: Santos issued two tenders to sell Barrow Island and Cooper Basin crude for 2018, documents reviewed by Reuters showed. It offered 20,000-23,000 barrels per day of Cooper Basin crude to be lifted in cargo size of 300,000-600,000 barrels.

For Barrow Island, the buyer must lift 4,500 bpd of the oil from all of the sellers, namely Chevron, Santos and Mobil Australia Resources Company. Interested parties are to submit bids at a premium to the average of Kimanis crude price assessments from Platts and RIM Read More…

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