26 March, 2018
The Petroleum Authority of Thailand (PTT) picked up Abu Dhabi Murban and Qatar Marine in its sour crude buy tender for early-June arrival on behalf of the country’s petrochemical firm IRPC. Taiwan’s Formosa Petrochemical Corp (FPCC) procured Oman and Banoco Arab Medium in its sour crude buy tender for May loading. Through a similar tender, Taiwan’s CPC Corp purchased Abu Dhabi Upper Zakum for May loading.
For North American crudes, India’s state-run Indian Oil Corp (IOC) secured US WTI Midlands for May loading. Elsewhere, Canadian Hibernia found a home in China for April loading. Hibernia is normally processed at domestic refineries in Canada. The rare move to sell Hibernia to Asia apparently came as a planned refinery turnaround created excess inventories. Meanwhile, Thailand’s PTT was said to have purchased Nigerian Akpo in its light sweet crude/condensate buy tender for late-May to early-June arrival on behalf of IRPC.
With regards to Vietnamese crudes, the country’s state-run PV Oil issued a series of May-loading sell tenders on Ruby, Thang Long, BungaKekwa and BungaOrkid as well as Bach Ho Light and Bach Ho Heavy, following similar tenders for Chim Sao and T.G.T. For Malaysian crudes, the country’s state-owned Petronas awarded its May-loading sell tenders on Bertam and Angsi. Among Japanese end-users, Taiyo Oil purchased Chim Sao and Angsi.