LONDON, Feb 11 (Reuters) - Spot differentials on Russian Urals eased slightly in the North on Monday as refinery maintenance weighed on demand, while Iraq raised its March prices and the March Kazakh CPC Blend programme emerged, showing an increase. In the Platts window, PetroIneos offered a 100,000 tonne cargo of Russian Urals at dated Brent minus $1.55 cif Rotterdam loading March 4-8. The offer was weaker than last week's deal but no buyer surfaced. It was unusual as PetroIneos is normally a buyer and supplies a UK refinery. "The market is still resisting," one trader said. Urals dropped sharply since the end of January due to approaching seasonal maintenance after a tight month underpinned prices, with severe loading delays caused by bad weather affecting ports across the Mediterranean and the Black Sea. The March CPC Blend loading programme was set at 2.461 million tonnes, a preliminary programme showed, up from 2.297 million tonnes in February. Tengizchevroil sold a 135,000 tonne cargo loading March 1-5, several traders said, at around dated Brent minus 90 cents, but buyer details could not be confirmed. The grade has weakened lately due to poor naphtha margins but also an influx of West African crude and less U.S. buying of light sweets generally. Iraq's state marketing company Somo raised March official selling prices for Europe. Kirkuk crude was set at dated Brent minus $2.55 and Basra Light at dated Brent minus $4.85.ID:nL5N0BA45W The price was deemed reasonable and slightly compensatory of the severe loading delays in January, which created demurrage costs for traders. "Very reasonable, the way it should be considering that people wasted a lot of money in demurrage," another trader said. In tender news, Glencore won Polish company PKN Orlen's buy tender for a cargo of Urals loading Feb. 26-March 3, but price details were kept private. The head of Russia's state oil pipeline monopoly, Transneft, signalled on Monday it was lining up for battle against private magnates who built their fortunes around the company's export infrastructure.ID:nL5N0BB7X2 Among those to lose business on the Druzhba is Summa, whose trading arm Soyuz did not receive its usual volumes in January. BP has backed a move by Shell to head off a liquidity crunch in the Brent crude market where falling output and oilfield outages can boost global prices, raising questions about its credibility as a worldwide benchmark.ID:nL5N0BBBVY (Reporting by Julia Payne; Editing by Anthony Barker) ((julia.payne@thomsonreuters.com)(+44 0207 542 1836)(Reuters Messaging: julia.payne.reuters.com@reuters.net)) ((For a database of oil supply and demand fundamentals upstream and downstream, Reuters subscribers can click onhttp://bond.views.session.rservices.com/ce/ ((MED CRUDE OIL DIFFERENTIAL AND OUTRIGHT PRICE ASSESSMENTS:0#BFO-DIF 0#C-E Urals MedBFO-URL-E URL-E Urals NWEBFO-URL-NWE URL-NWE-E KirkukBFO-KIR KIR-E Siberian LightBFO-SIB SIB-E Saharan BlendBFO-SAH SAH-E CPC BlendBFO-CPC CPC-E AzeriBFO-AZR AZR-E CRUDE ARBITRAGE STORIESO/CRUDEARB CRUDE OIL TRADESCRU/T NORTH SEA CRUDE REPORTCRU/E AFRICAN CRUDE REPORTCRU/WAF Russia oil export schedule, monthlyO/RUS4 Russia oil exports, table, monthlyO/RUS3 Russia oil output by company, monthlyO/RUS2 Russia oil output/exports, monthlyO/RUS1 Russia product export, monthlyO/RUS5 ENERGY energy speed guideCRUDE/1 crude speed guide NYMEX crude0#CL: ICE crude0#LCO: OPEC OPECNSEA North SeaCRU crude oilPROD oil productsDRV derivativesPRO/E European productsO/L Latest ICEO/N Latest NYMEXOILOIL NYMOIL IPEOIL OILSPD OILARB CRDWLD PRODEUR PRODUS APROD )) )) Keywords: MARKETS MEDITERRANEAN/CRUDE
Med Crude-Urals weaken in North, CPC exports to rise in March
LONDON, Feb 11 (Reuters) - Spot differentials on Russian Urals eased slightly in the North on Monday as refinery maintenance weighed on demand, while Iraq raised its March prices and the March Kazakh CPC Blend programme emerged, showing an increase. In the Platts window, PetroIneos offered a 100,000 tonne cargo of Russian Urals at dated Brent minus $1.55 cif Rotterdam loading Ma
February 12, 2013




















