ReutersReuters

Urals diffs stable, Azeri BTC hits 4-year low on quality issues

RefinitivOkuma süresi: 1 dakika

Urals crude differentials to dated Brent held steady on Tuesday, while Azeri BTC eased to the lowest level in four years after deals in the afternoon trading window, traders said and LSEG data showed.

An excessive level of organic chlorides has been found in some Azeri BTC cargoes, disrupting loadings, several industry sources told Reuters on Tuesday.

Azerbaijan's state energy company SOCAR did not reply to a request for comment.

PLATTS WINDOW

  • SOCAR sold to Trafigura 650,000 barrels of Azeri BTC over August 9-13 at dated Brent plus $0.45 per barrel.

  • SOCAR sold to Total 650,000 barrels of Azeri BTC over August 9-13 at dated Brent plus $0.40 per barrel.

  • The deals were some $1.05-$1.10 per barrel below the latest price estimates for the grade.

  • No bids or offers were made for Urals or CPC Blend in the Platts window on Tuesday.

NEWS

  • Russian state oil and gas revenue is set to fall in July by around 37% from the same month in 2024 to 680 billion roubles ($8.66 billion) due to cheaper oil and a stronger local currency, Reuters calculations show.

  • Kazakhstan, one of the fastest-growing oil producers in the world, plans to boost its fuel exports to China, India and Central Asia, pinning its hopes on growing demand in the regions, the energy ministry said on Tuesday.

  • A tanker chartered by energy major BP left a port run by newly sanctioned Indian refiner Nayara Energy without loading, according to five industry sources and LSEG shipping data, a sign fresh European Union curbs on Russia are beginning to bite.

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