January 29, 2019 / 5:35 PM / 3 months ago

Med Crude-Urals diffs fall in NWE on higher Russian exports set for February

MOSCOW, Jan 29 (Reuters) - Urals crude differentials in northwest Europe fell below dated Brent on Tuesday after Russia’s Baltic Sea oil export plan for February showed a 5 percent rise on a daily basis from January despite Moscow’s pledge to cut output in its deal with OPEC.

Urals crude oil loadings from Russia’s Primorsk and Ust-Luga ports in February have been set at 5.3 million tonnes compared with 5.6 million tonnes in January, a revised preliminary schedule released on Tuesday showed.

Given February has fewer days, this equates to a 5 percent rise on daily basis.

Urals and Siberian Light loadings from the Black Sea port of Novorossiisk in February will fall to 1.9 million tonnes from 2.2 million tonnes set for January. That is down by 4 percent on a daily basis from January.

* In the Platts window, Trafigura sold to Total 100,000 tonnes of Urals from Primorsk or Ust-Luga on Feb. 19-23 at dated Brent minus $0.25 a barrel, down by 30 cents from Monday estimations.

* Shell offered 85,000 tonnes of CPC Blend on Feb. 12-16 at dated Brent minus $1.50 a barrel, but found no buyer.

* Socar offered 650,000 barrels of Azeri BTC from Ceyhan for Feb. 16-20 loading at dated Brent plus $1.95 a barrel.

* There were no bids or offers for Urals and Siberian Light in the Mediterranean on Tuesday.

TENDERS

* Russia’s Rosneft has asked participants to confirm or improve bids in a tender to sell Urals and CPC Blend crude oil from Russian ports in April-September 2019.

* The second round of the tender closes on Jan. 31 at 1500 Moscow time (1200 GMT). The final results will be announced on Feb. 11 not later than 1900 Moscow time (1700 GMT).

RELATED NEWS

* The Trump administration on Monday imposed sweeping sanctions on Venezuelan state oil firm PDVSA, aimed at severely curbing the OPEC member’s crude exports to the United States and to push socialist President Nicolas Maduro to step down.

* Russia, a close ally of Caracas, denounced the move as illegal interference in Venezuela’s affairs and said the curbs meant Venezuela would probably have problems servicing its $3.15 billion sovereign debt to Moscow.

* Libya’s biggest oilfield, El Sharara, will remain shut until an armed group occupying the site leaves, the head of National Oil Corp (NOC) said on Tuesday, more than a month after the field closed because of a protest.

* OPEC member Libya is now producing just below 1 million bpd, Sanalla said, below average production in 2018 of 1.1 million bpd. (Reporting by Gleb Gorodyankin Editing by Edmund Blair)

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