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Med crude-Urals diffs unchanged, Siberian Light diffs plunge

Tue 24th March, 2020 5:08pm
MOSCOW, March 24 (Reuters) - Urals differentials were
unchanged on Tuesday due to low trading activity, while Russia's
Siberian Light differentials fell to the lowest levels to dated
Brent in years due to low demand for the grade.
    * The Urals full loading plan for April didn't emerge on
Tuesday,
but traders expect it to be out on Wednesday.

    * Demand for Russia's sweet Siberian Light oil loading from
Novorossiisk was very low due to ample supply of alternatives
and lower refinery runs on European refineries in the
Mediterranean due to the coronavirus epidemic, traders said.

    
    PLATTS WINDOW
    * Trading firm Tenergy offered 80,000 tonnes of Siberian
Light
loading from Novorossiisk on April 13-17 at dated Brent minus
$2.40 per barrel, but failed to find a buyer. 

    * Siberian Light normally trades at a premium or a small
discount
to dated Brent.

    * There were no bids or offers for Urals, CPC Blend or Azeri
BTC
in the Platts window on Tuesday. 

     
    NEWS    
    * India's state oil refiners are reducing crude processing
as
local fuel demand has tumbled due to lockdowns in much of the
country that are aimed at halting the spread of coronavirus,
industry and company officials said.  urn:newsml:reuters.com:*:nL4N2BH397
    * Gazprom Neft  SIBN.MM , the oil arm of Russian gas giant
Gazprom
 GAZP.MM , plans to raise oil production at its Arctic projects
this year, the company said on Tuesday.  urn:newsml:reuters.com:*:nR4N2B400L    


 (Reporting by Olga Yagova; Editing by Mark Potter)
 ((Olga.yagova@thomsonreuters.com ;))
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