March 2, 2020 / 5:38 PM / a month ago

Med Crude-Urals diffs steady in NWE ahead of Russia's Surgut spot tender

LONDON, March 2 (Reuters) - Urals crude differentials to dated Brent in northwest Europe were stable on Monday ahead of Russia’s Surgut spot tender to sell two cargoes of the grade for loading in, traders said.

The spread between Aframax and Suezmax cargoes of Urals and CPC Blend in Mediterranean widened on weaker demand and pour arbitrage economic, they added.


* Surgutneftegaz issued a spot tender on Monday to sell 200,000 tonnes of Urals loading from Ust-Luga and Primorsk ports on March 29-30.

* The tender closes on March 3 at 1400 Moscow time (1100 GMT).

* Russian state oil giant Rosneft has awarded a tender to sell Urals and CPC Blend crude oil loading in April-September to Trafigura, Total and Gunvor.


* There were no bids nor offers for Urals, CPC Blend and Azeri BTC in the Platts window on Monday.


* Russia is evaluating an earlier and smaller oil production cut proposal made by OPEC and its allies, energy minister Alexander Novak said, adding it had not received one for deeper cuts.

* Russian oil output stood at 11.29 million barrels per day (bpd) in February, slightly up from 11.28 million bpd in January, Interfax news agency reported on Monday, citing Energy Ministry data.

* Belarusian state energy firm Belneftekhim said on Monday Azerbaijan’s state oil company Socar could deliver up to 1 million tonnes of oil to Belarus in 2020. (Reporting by Gleb Gorodyankin and Olga Yagova)

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