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SINGAPORE, Feb 17 (Reuters) - Exports of sweet crudes andcondensate from Australia, Papua New Guinea and East Timor areexpected to remain steady in April as field maintenance keepssupplies limited, traders said on Monday. A total of 13 cargoes of sweet crude and condensate will beavailable for April loading, the same as in March. With supply steady, differentials for both crude andcondensate were expected to weaken in April as refiners enterturnaround season. Condensate volumes would remain unchanged withConocoPhillips marketing two Bayu Undan cargoes compared to onein March and four cargoes of Northwest Shelf (NWS) available,including one late-March cargo held by Woodside that wasdeferred to March 31-April 4, traders said. BHP Billiton would load a April 10-14 cargo, BP a April18-22 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 thisyear," said one trader. No Kitan condensate would be available in April, withtraders saying Eni was still holding one cargo scheduled forend-March loading, while the next cargo was only expected inMay. One combined cargo of Pluto and Laminaria could still beavailable for end-March loading with no new supply in April,traders said. For the heavy sweet grades, supply would fall to four fromfive with no Stybarrow expected in April. Traders had expectedEnfield to load in April, the first since end-January, but somesaid 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 NewGuinea 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
15 Apr 2024 11:56
LONDON MARKET MIDDAY: Oil falls despite rising Iran-Israel tensions
(Alliance News) - London's FTSE 100 was down at midday on Monday, as oil majors BP and Shell were hurt by falling prices, with investors showing caution following Iran's strikes on Israel over the weekend.
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