Spot premiums for Middle East crude benchmarks — Oman, Dubai and Murban — stabilized on Wednesday after sliding in the previous two sessions.
QatarEnergy has trimmed the term price for al-Shaheen crude oil loading in December, trade sources said, tracking spot market levels this month.
The December term price was set at $1.93 a barrel to Dubai quotes, 16 cents a barrel lower than the $2.09 a barrel for the previous month, they said.
QatarEnergy sold three cargoes at premiums between $1.53 and $1.96 a barrel to Dubai quotes to TotalEnergies, Aramco Trading and Exxon Mobil, the sources said. The cargoes are to load on Dec. 1-2, 26-27 and 27-28.
Separately, QatarEnergy sold a December-loading Qatar Marine crude cargo to Unipec at 60-70 cents a barrel above Dubai quotes and a Qatar Land crude cargo to Vitol at a premium of 80-90 cents a barrel, the sources said.
ASIA-PACIFIC CRUDE
PV Oil has offered Bach Ho and Su Tu Den crude for lifting in the first half of 2025 via tenders. There will be 300,000 barrels for each grade per month. The tenders will close at the end of October with bids valid until early November.
SINGAPORE CASH DEALS
Cash Dubai’s premium to swaps inched up 3 cents to $1.59 a barrel.
NEWS
India’s crude oil imports from Russia rose by 11.7% to about 1.9 million barrels per day (bpd) in September, accounting for about two-fifths of the South Asian nation’s overall crude imports in the month, tanker data obtained from industry sources showed.
Nigeria’s oil regulator has rejected Shell’s SHEL.L proposed $1.3 billion sale of its onshore oilfields to Renaissance group because the buyer is not qualified to manage the assets, Lagos-based ThisDay newspaper reported on Wednesday.
Source: Reuters (Reporting by Florence Tan and Siyi Liu in Singapore)