Med crude-Urals diffs ease slightly in Baltic on offer

PUBLISHED: Tue, 20 Apr 2021 17:45:41 GMT

MOSCOW, April 20 (Reuters) – Urals crude oil differentials inched down to dated Brent in Baltic after an offer at lower price level didn’t find a buyer on Tuesday as sellers tried to place their cargoes.

* Urals oil loading plan for dates after May 5 was yet to emerge on Tuesday. Traders expected it to be released soon.


* Trading firm Vitol offered 100,000 tonnes of Urals oil loading on May 4-8 at dated Brent minus $2.30 per barrel but failed to find a buyer.

* Gunvor offered 100,000 tonnes of Urals loading from Baltic ports on May 2-6 at dated Brent minus $2.35 per barrel but failed to find a buyer.

* There were no bids or offers for Urals loading from Novorossiisk, CPC Blend or Azeri BTC in the Platts window on Tuesday. NEWS

* Italy’s Eni is considering spinning off oil and gas operations in West Africa and the Middle East into new joint ventures to help reduce debt and fund its shift to low-carbon energy, according to company and industry sources.

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* Libya’s National Oil Corp (NOC) declared force majeure on Monday on exports from the port of Hariga and said it could extend the measure to other facilities due to a budget dispute with the country’s central bank. (Reporting by Olga Yagova; Editing by Steve Orlofsky)

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