Middle East Crude-Benchmarks fall; QP, SOMO, Rongsheng, MRPL issue tenders

Middle East crude benchmarks Oman and Dubai fell on Monday

  

SINGAPORE- Middle East crude benchmarks Oman and Dubai fell on Monday after rising for four consecutive sessions.

Qatar Petroleum (QP) has offered two al-shaheen crude cargoes, loading Feb. 5-6 and Feb. 26-27, via its monthly spot tender to be closed on Tuesday with bids valid until Wednesday.

QP has also offered February-loading Deodorized Field Condensate (DFC) via a tender.

Iraq's SOMO has offered 1 million barrels of Basra Light crude, loading Jan. 29-31, via a spot tender to be closed on Wednesday.

China's Rongsheng Petrochemical is seeking February-loading crude via a tender to be closed Tuesday morning with same-day validity.

India's MRPL is seeking 1 million barrels of sour crude for delivery over Feb. 13-25 via a tender to be closed on Wednesday with bids valid until Friday.

REFINERY

Australia will bring forward by six months a payment to support the country's three remaining oil refineries to help tide over the financial hit from the COVID-19 pandemic, Energy Minister Angus Taylor said on Monday. urn:newsml:reuters.com:*:nL1N2IU02F

NEWS

Algerian Energy Minister Abdelmadjid Attar said on Sunday that OPEC+ countries will meet on Jan. 4 to study the market after their last decision to limit production rises to 500,000 barrels per day starting next year, Algeria's state news agency said. 

Kuwait's emir on Monday approved a new cabinet that included new ministers of oil and finance for the OPEC member state which is mired in its worst economic crisis in decades. 

Shipping company Hafnia said one of its oil tankers, the BW Rhine, had been hit by an unidentified "external source" that caused an explosion and a fire while the ship was discharging at Jeddah port in Saudi Arabia.

Equinor has started production from its Snorre oilfield expansion project ahead of time and below budget, the Norwegian energy major said.

(Reporting By Shu Zhang; Editing by Krishna Chandra Eluri) ((shu.zhang@thomsonreuters.com; +65-6870-3549; Reuters Messaging: Twitter @shuzhang4))


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