SINGAPORE: Activity on the Asia-Pacific crude market is picking up following the release of the Malaysian Kimanis December loading programme and various tenders from Indonesia, Vietnam and Myanmar.
Eight 600,000 barrel cargoes of Malaysian Kimanis crude are scheduled to load in December, unchanged from November supplies. ConocoPhillips, Petronas and Shell will each have two cargoes of the grade, while Petroleum Brunei and Murphy will each have a cargo for loading in December.
Vietnamese state-marketer PV Oil is offering January-June term supplies of Bach Ho crude in what is likely to be the country's first term tender for the grade, traders said.
The oil firm is offering a minimum of 10,000 barrels per day (bpd) of Bach Ho crude with 33-35 degrees API, which is the grade's heavier variant. The tender will close on Oct. 19 and have validity to Oct. 26.
Malaysian state-owned Petronas has also issued a tender to sell January Myanmar Yetagun condensate on behalf of stakeholders. The 350,000-barrel cargo is due to load around Jan. 13, according to the tender document seen by Reuters. The tender will close on Oct. 25. Toyota bought the November-loading cargo of the grade at around 20 cents per barrel below dated Brent via tender in August.
Indonesian state-controlled Pertamina is seeking three cargoes totalling 1.8 million barrels of condensate for December delivery via a tender that closes on Oct. 18. Pertamina most recently bought an end November-delivery cargo of Australian North West Shelf condensate from BP at around $2 per barrel to dated Brent on a delivered basis.
A Japanese trader has sold a cargo of December-loading Qatari Deodorized Field Condensate (DFC) to a Japanese buyer at a premium in the mid-$3.00 per barrel to Dubai quotes. The identity of the buyer remains unclear.
December DFC premiums have eased from November trades that were done around $4 per barrel premium to dated Brent even as Qatari state-marketer Tasweeq did not offer DFC in its monthly condensate sell tender.
An overhang of November-loading DFC cargoes that were still available early in the December trading cycle left buyers with ample supply options for December cargoes, North Asian condensate buyers said.
Trade for December-loading Russian ESPO Blend began following the release of sell tenders from Rosneft and Surgutneftegas. Rosneft is offering two 740,000-barrel cargoes of the grade, while Surgut is offering three cargoes of similar volumes.
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