Middle East Crude-Dubai premium climbs; Rongsheng buys TMX oil

TMX

25/06/2024 10:57

SINGAPORE, June 25 (Reuters) - Middle East crude
benchmark Dubai's spot premium climbed on Tuesday following a
flurry of trades that led to the delivery of two cargoes on
Platts window.
    Chinese refiner Rongsheng Petrochemical  002493.SZ  has
bought two 550,000-barrel cargoes of Canadian Access Western
Blend (AWB) crude via the recently expanded Trans Mountain
pipeline (TMX) for September delivery, trade sources said on
Tuesday.
    The cargoes were sold by Macquarie at a discount of $6-$7 a
barrel to ICE Brent in a tender, they added.
    AWB is a type of heavy and highly acidic diluted bitumen
produced by Canadian Natural Resources and MEG Energy.
    Rongsheng bought its first cargo from the TMX pipeline this
month.
    
    SINGAPORE CASH DEALS
    Cash Dubai's premium to swaps rose 15 cents to 81 cents a
barrel. Unipec will deliver an August-loading Murban crude to
Mercuria, and Hengli will deliver an Upper Zakum crude cargo to
Mitsui.
 SELLER-BUYER           PRICE
 UNIPEC-MERCURIA        85.30
 BP-MITSUI              85.30
 UNIPEC-MERCURIA        85.30
 TRAFIGURA-MITSUI       85.30
 UNIPEC-MERCURIA        85.30
 BP-MITSUI              85.30
 EXXONMOBIL-MERCURIA    85.30
 TRAFIGURA-MITSUI       85.30
 EXXONMOBIL-MITSUI      85.30
 EXXONMOBIL-MITSUI      85.30
 HENGLI-MERCURIA        85.30
 EXXONMOBIL-MITSUI      85.30
 UNIPEC-MITSUI          85.30
 EXXONMOBIL-MITSUI      85.30
 HENGLI-MERCURIA        85.30
 UNIPEC-MITSUI          85.30
 EXXONMOBIL-TOTAL       85.25
 EXXONMOBIL-MITSUI      85.30
 HENGLI-MERCURIA        85.30
 UNIPEC-MITSUI          85.30
 BP-MERCURIA            85.30
 UNIPEC-TOTAL           85.25
 EXXONMOBIL-TOTAL       85.25
 EXXONMOBIL-MITSUI      85.30
 HENGLI-MITSUI          85.29
 HENGLI-MERCURIA        85.29
 BP-MITSUI              85.29
 EXXONMOBIL-TOTAL       85.25
 UNIPEC-MERCURIA        85.30
 BP-MITSUI              85.29
 HENGLI-MITSUI          85.29
 TRAFIGURA-MITSUI       85.29
 BP-MERCURIA            85.30
 UNIPEC-TOTAL           85.29
 UNIPEC-TOTAL           85.25
 EXXONMOBIL-MITSUI      85.29
 UNIPEC-TOTAL           85.25
 UNIPEC-TOTAL           85.25
 EXXONMOBIL-MERCURIA    85.29
 BP-TOTAL               85.25
 UNIPEC-MITSUI          85.29
 EXXONMOBIL-MERCURIA    85.29
 UNIPEC-MITSUI          85.29
 UNIPEC-TOTAL           85.25
 TRAFIGURA-TOTAL        85.25
 EXXONMOBIL-MERCURIA    85.29
 UNIPEC-MITSUI          85.29
 HENGLI-MERCURIA        85.29
 UNIPEC-TOTAL           85.25
 EXXONMOBIL-MITSUI      85.29
 
    PRICES ($/BBL)
                         CURRENT  PREV SESSION
 DME OMAN                85.16    84.51
 DME OMAN DIFF TO DUBAI  0.68     0.63
 CASH DUBAI              85.29    84.54
    
    REFINERY
    Japan's second-biggest oil refiner Idemitsu Kosan  5019.T 
shut the 150,000-barrels-per-day (bpd) crude distillation unit
(CDU) at its Hokkaido refinery, northern Japan, on June 22 for
scheduled maintenance, a company spokesperson said on Tuesday.
    The maintenance is expected to last for a few months, the
spokesperson added.
    Idemitsu also said its unit Toa Oil restarted a 70,000 bpd
sole CDU at the Keihin refinery, near Tokyo, on May 22 after
having shut on Dec. 3 last year for a system glitch.
    
    NEWS
    Mexican state energy company Pemex is unlikely to produce
any commercially viable motor fuels at its new Olmeca refinery
before the end of the year, five sources said, despite pressure
that it should be ready before the outgoing president's term
ends.
    Mitsui & Co  8031.T  has started construction of an ammonia
plant in the United Arab Emirates (UAE) with partners including
an Abu Dhabi National Oil Company (ADNOC) unit, it said on
Tuesday.
    
    For crude prices, oil product cracks and refining margins,
please click on the RICs below.
  
 Brent                        BRENTSGMc1 
 Dubai                        DUBSGSWMc2 
 DME Oman                     OQc1 
 Brent/Dubai EFS              DUB-EFS-1M 
                             
 PRODUCT CRACKS              
 Fuel oil crack               FO180SGCKMc1 
 Gasoil crack                 GOSGCKMc1 
 Naphtha crack                NAF-SIN-CRK  
 Complex refining margins     REF/MARGIN1 
 
 (Reporting by Florence Tan; Editing by Vijay Kishore)
 ((Florence.Tan@thomsonreuters.com; Reuters Messaging:
florence.tan.thomsonreuters.com@reuters.net))
 
((RECENT CRUDE OIL TRADES:
Asia  ACRU/T   Europe  CRU/T  Americas  CRU/TU 
      
CRUDE OIL MARKET NEWS      
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Refinery outages in Asia                         REF/OUT-ASIA-O       
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