January 30, 2020 / 5:26 PM / 17 days ago

Med crude-Urals diffs firm in Baltic on fresh demand

MOSCOW, Jan 30 (Reuters) - Urals crude oil differentials in northwest Europe firmed to dated Brent on Thursday on refreshed demand for February cargoes of the grade.

* Urals differentials firmed along with North Sea grades on the back of higher demand from Baltic refiners, traders said.

* Market participants expected Russia’s Surgutneftegaz to issue another spot tender on Friday as the producer had a couple of unplaced cargoes loading in the end of February.


* Shell bid for 100,000 tonnes of Urals loading from Primorsk port on Feb. 14-18 at dated Brent minus $1.30 per barrel, some 50 cents per barrel, but failed to find a seller.

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


* Russia’s oil and condensate production rose to 11.28 million barrels per day on Jan. 1-29 from 11.26 million barrels per day on average in December, two industry sources familiar with the data told Reuters.

* Russian oil pipeline monopoly Transneft faces claims of up to $1 billion related to contaminated oil, more than double its own estimates, industry sources said, setting the stage for protracted haggling with oil suppliers. (Reporting by Olga Yagova; Editing by Elaine Hardcastle)

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