Pacific crude exports to keep steady in April Tue Feb 18, 2014 1:06pm IST SINGAPORE, Feb 17 (Reuters) - Exports of sweet crudes and condensate from Australia, Papua New Guinea and East Timor are expected to remain steady in April as field maintenance keeps supplies limited, traders said on Monday. A total of 13 cargoes of sweet crude and condensate will be available for April loading, the same as in March. With supply steady, differentials for both crude and condensate were expected to weaken in April as refiners enter turnaround season. Condensate volumes would remain unchanged with ConocoPhillips marketing two Bayu Undan cargoes compared to one in March and four cargoes of Northwest Shelf (NWS) available, including one late-March cargo held by Woodside that was deferred to March 31-April 4, traders said. BHP Billiton would load a April 10-14 cargo, BP a April 18-22 cargo and Chevron a April 27-May 1 cargo. They are trying to spread out maintenance and keep (NWS) loading at an average of four or five cargoes a month this year, said one trader. No Kitan condensate would be available in April, with traders saying Eni was still holding one cargo scheduled for end-March loading, while the next cargo was only expected in May. One combined cargo of Pluto and Laminaria could still be available for end-March loading with no new supply in April, traders said. For the heavy sweet grades, supply would fall to four from five with no Stybarrow expected in April. Traders had expected Enfield to load in April, the first since end-January, but some said no cargoes would be available. Oil Search would load two cargoes of Kutubu in April. Below is a table of Australia, East Timor and Papua New Guinea crude and condensate exports: ------------------------------------------------ GRADE CARGO SIZE APR MAR ------------------------------------------------ Enfield 550KB 0 0 Stybarrow 550KB 0 1 Vincent 550KB 2 2 Pyrenees 500KB 2 2 Van Gogh 400KB 0 0 Cossack 650KB 1 1 Kutubu 650KB 2 1 Kitan 500-600KB 0 1 NWS Cond 600KB 4 3 Bayu Undan 650KB 2 1 Pluto 650KB 0 0.5 Laminaria 650KB 0 0.5 Total: 13 13 Source: Trade FILED UNDER:REGULATORY NEWS
Posted on: Wed, 19 Feb 2014 03:09:10 +0000
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