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Med crude-Urals diffs firm in NWE as Unipec buys April cargoes

Mon 23rd March, 2020 5:27pm
MOSCOW, March 23 (Reuters) - Urals crude differentials to
dated Brent firmed in northwest Europe on Monday on the back of
fresh demand for April cargoes, especially from China's Unipec.
    * Brent's discount to Dubai swaps stood at around $4 a
barrel on
Monday, a new record since at least 2004 when the data became
available, Refinitiv Eikon data showed.  DUB-EFS-1M    

    * This may open up the possibility of Brent-linked Urals
arbitrage
supplies to Asia, even though freight costs remain high, traders
said. Unipec plans to take Urals on VLCC to China, they added.
    * Market participants expected a full preliminary loading
plan for
April to emerge on Tuesday.


    TENDER    
    * Russia's Surgut sold 200,000 tonnes of Urals for April in
a spot
tender to China's Unipec, at dated Brent minus some $3.40 a
barrel, when adding freight to the original free on board (FOB)
differential.  urn:newsml:reuters.com:*:nL8N2BG764   
PLATTS WINDOW
    * There were no bids or offers for Urals, CPC Blend or Azeri
BTC
in the Platts window on Monday.

    NEWS
    * Russia has settled a months-long oil supply dispute with
Belarus, three industry sources told Reuters on Monday, as
Moscow seeks as many buyers as possible in a fight for market
share after a cooperation agreement with Saudi Arabia fell
apart.  urn:newsml:reuters.com:*:nL8N2BG40V

    * The sources said Russian oil companies were ready to
restore
full supplies from April 1, but Belarus is yet to say how much
oil it needs.

    * For Russia's offline primary oil refining capacity data,
from
the energy ministry, click here  urn:newsml:reuters.com:*:nL8N2BG3VV 
    * Boosting oil production in April is not "expedient" due to
the
impact of the coronavirus outbreak on the global energy market,
the TASS news agency reported the head of Russian oil producer
Tatneft as saying on Monday.  urn:newsml:reuters.com:*:nR4N2BA01E
    


 (Reporting by Gleb Gorodyankin and Olga Yagova; Editing by
Pravin Char)
 ((gleb.gorodyankin@thomsonreuters.com;))
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