Middle East Crude-Benchmarks fall; Jan ESPO loading hits record high



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SINGAPORE, Feb 3 (Reuters) -Middle East crude benchmarks Oman, Dubai and Murban edged lower on Friday amid thin trade, while the final plan of the European Union sanction on Russian oil products is under watch.

The market is also waiting for top oil exporter Saudi Arabia to publish its official selling prices (OSPs) for March-loading cargoes.

The OSPs to Asian buyers are expected to be lowered from the previous month, as the increasing flow of Russian crude into Asia take shares of other suppliers.

Russia exported some 3.8 million tonnes of ESPO Blend crude oil ESPO-DUB from the Far East port of Kozmino in January, a record monthly high for the port, market sources said on Thursday.


RUSSIAN OIL

China's independent refineries are ramping up imports of discounted fuel oil blended from Russian barrels to use as low-cost feedstock amid a shortage of government crude oil import quotas for some of them, according to trade sources and data.


SINGAPORE CASH DEALS

Cash Dubai's premium to swaps fell 6 cents to $1.77 a barrel.

Seller-Buyer

Price

KOCH-MERCURIA

79.55

VITOL-MERCURIA

79.55

RELIANCE-PETROCHINA

79.55

BP-MERCURIA

79.60

RELIANCE-TRAFIGURA

79.55

RELIANCE-MERCURIA

79.60

TOTAL-PETROCHINA

79.60

PHILLIPS 66-TRAFIGURA

79.60

EXXONMOBIL-TRAFIGURA

79.65

VITOL-TRAFIGURA

79.65

BP-PETROCHINA

79.70

KOCH-MERCURIA

79.65

PHILLIPS 66-TRAFIGURA

79.65

EXXONMOBIL-TRAFIGURA

79.70

UNIPEC-MERCURIA

79.75

KOCH-MERCURIA

79.70

TOTAL-PETROCHINA

79.70

TOTAL-MERCURIA

79.70

VITOL-TRAFIGURA

79.75

EXXONMOBIL-TRAFIGURA

79.75

TOTAL-TRAFIGURA

79.75

EXXONMOBIL-TRAFIGURA

79.80

VITOL-MERCURIA

79.80

KOCH-MERCURIA

79.75

PRICES ($/BBL)


CURRENT

PREV SESSION

DME OMAN

79.61

81.00

DME OMAN DIFF TO DUBAI

1.63

1.94

CASH DUBAI

79.75

80.89


ASIAN REFINERIES

Taiwan's state-owned refiner, CPC Corp, plans to shut its No. 11 crude distillation unit (CDU) in June for scheduled maintenance, company spokesperson Chang Ray-chung said on Friday.


NEWS

The European Union's ban on imports of Russian refined oil products, including diesel and jet fuel, will disrupt global flows once it takes effect on Sunday and could hurt Moscow more than an embargo on crude oil.

Russia may switch to taxing oil producers based on Brent crude LCOc1 prices rather than the currently used Urals benchmark, after Western sanctions drove down the price of the latter, the Kommersant daily said on Friday, citing sources.

French oil major TotalEnergies TTEF.PA and Iraq are taking further time to hammer out key sticking points in a long-delayed $27 billion energy deal which Baghdad hopes will revive foreign investment in the country.

Pemex [RIC:RIC:PEMX.UL] is nearing a full restart on Thursday of its 312,500-barrel-per-day (bpd) Deer Park, Texas, refinery following an unplanned shutdown because of severe storms on Jan. 24, said people familiar with plant operations.


For crude prices, oil product cracks and refining margins, please click on the RICs below.

Brent

BRENTSGMc1

Dubai

DUBSGSWMc2

DME Oman

OQc1

Brent/Dubai EFS

DUB-EFS-1M



PRODUCT CRACKS


Fuel oil crack

FO180SGCKMc1

Gasoil crack

GOSGCKMc1

Naphtha crack

NAF-SIN-CRK

Complex refining margins

REF/MARGIN1



Reporting by Muyu Xu; Editing by Rashmi Aich

RECENT CRUDE OIL TRADES: Asia ACRU/T Europe CRU/T Americas CRU/TU CRUDE OIL MARKET NEWS Crude oil tenders in Asia CRU/TENDA Crude oil supply outages in Asia CRU/OUT-ASIA-O Refinery outages in Asia REF/OUT-ASIA-O Global arbitrage news and flows O/CRUDEARB W.African crude imports to Asia, monthly O/WAFRICA1 REFINERY MAINTENANCE DIARIES Asia REF/A Middle East REF/ME Europe REF/E NATIONAL CRUDE IMPORT DATA Japan METI/JP1 China O/CHINA1 India O/INDIA2 S.Korea O/KOREA1 Indonesia O/INDO1-CRU CRUDE OIL INVENTORY DATA Japan O/JAPAN1 US EIA/S Europe O/EUROIL1 CRUDE OIL PRODUCTION/OILFIELD NEWS OPEC output survey OPEC/O New Africa fields AFR/NEW New projects ENERGY/NEW New Americas fields AM/NEW CRUDE OIL MARKET REPORTS Middle East CRU/MAsia-Pacific CRU/AP West Africa CRU/WAF North Sea CRU/E Asia outlook ASIA/CRU Europe outlook EUR/CRU Global futures report O/R Technicals report O/I PRICES For all Official Selling Prices OSP/O For a POLL on oil prices O/POLL NYMEX and ICE oil futures OILOIL TOCOM crude oil futures 0#JCO: Dubai, Oman swaps and spread ASIA/SWAP/CRUDE Middle East physical crude diffs CRUDE/ASIA2 Australia physical crude, Tapis swaps CRUDE/ASIA1 Asia-Pacific physical crude CRUDE/ASIA3 All Asian crude oil differentials 0#C-DIF-A All Asian crude oil outright prices 0#C-A
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