Middle East Crude-Benchmarks rise; NWS condensate exports steady in Jan

Middle East crude benchmarks Oman and Dubai rose on Thursday

  

SINGAPORE- Middle East crude benchmarks Oman and Dubai rose on Thursday, while market participants continued to wait for the release of new monthly official selling prices (OSPs).

India's MRPL is seeking 2 million barrels of sour crude for delivery over Dec. 20-Jan. 3 via a spot tender to be closed on Nov. 9 with bids valid until Nov. 10.

ONGC closed a tender selling one cargo of Russian Sokol crude loading over Dec. 29-Jan. 4 with bids valid until later in the day.

Pertamina closed a tender seeking condensate for delivery between February and December next year.

NEWS

Malaysian state-owned energy giant Petroliam Nasional Berhad, or Petronas, said on Thursday it aims to become a net zero emitter of greenhouse gases by 2050 and also plans to increase its investments in renewable energy.

U.S. crude oil stockpiles fell sharply last week, as a storm cut production in the U.S. Gulf of Mexico, while gasoline stocks increased and distillate inventories fell, the Energy Information Administration said on Wednesday. 

Asian refiners' profit from producing very low sulphur fuel oil (VLSFO) climbed to six-month highs this week as output cuts keep supplies tight while demand for the shipping fuel at most ports are back at pre-pandemic levels, traders and analysts said. 

Indonesia's oil lifting, or its ready-to-sell oil production, stood at 706,000 barrels per day (bpd) in September, slightly above its 705,000 bpd target, the head of state oil and gas regulator SKK Migas said on Thursday. 

The United States formally exited the Paris Agreement on Wednesday, fulfilling an old promise by President Donald Trump to withdraw the world's second-largest greenhouse gas emitter from the global pact to fight climate change. 

(Reporting By Shu Zhang, Editing by Sherry Jacob-Phillips) ((shu.zhang@thomsonreuters.com; +65-6870-3549; Reuters Messaging: Twitter @shuzhang4))


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