February 27, 2020 / 6:17 PM / 3 months ago

Med crude-Urals diffs unchanged in quiet trade

MOSCOW, Feb 27 (Reuters) - Urals crude oil differentials to dated Brent were unchanged on Thursday in quiet trading.

* Urals values in the Mediterranean were under pressure due to weak refining margins in the region as well as the start of seasonal maintenance on plants in March, traders said.

* Traders expected possible corrections to be made to the Urals loading plan from Baltic ports in March as Safmar Group companies plan supplies to Belarus and may divert volumes from exports.

* Russneft and Neftisa, oil units of Russia’s Safmar Group , plan to supply around 400,000 tonnes of oil to Belarus refineries in March, three industry sources said.

PLATTS WINDOW

* There were no bids or offers for Urals, CPC Blend and Azeri BTC crude oil in the Platts window on Thursday, traders said.

RELATED NEWS

* Saudi Arabia, the world’s top oil exporter, is reducing crude supplies to China in March by at least 500,000 barrels per day (bpd) due to slower refinery demand following the coronavirus outbreak, two sources with knowledge of the matter said.

* Hontop Energy (Singapore) Pte Ltd, the trading arm of a Shandong-based refiner, has gone into receivership, according to its business profile on the website of Singapore’s accounting and corporate regulator. (Reporting by Olga Yagova; Editing by Kirsten Donovan)

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