May 19, 2020 / 6:37 PM / 12 days ago

Med crude-Urals stable, Azeri BTC June cargo offered lower

MOSCOW, May 19 (Reuters) - Urals differentials to dated Brent held stable again on Tuesday in quiet trade, while the premium for Azeri BTC started to come off as buyers avoided expensive barrels.

* Premiums for Azeri BTC eased due to lower demand as refiners didn’t want to buy oil at such a high price, traders said.


* SOCAR offered 650,000 barrels of Azeri BTC loading from Supsa or Ceyhan on June 6-10 at dated Brent plus $1.80 per barrel, 40 cents per barrel lower than the latest estimates.

* There were no bids or offers for Urals or CPC Blend in the Platts window.


* Exxon Mobil has relaunched the sale of its stake in Azerbaijan’s largest oilfield, the company said on Tuesday, as banking and industry sources said the move was drawing interest from large Asian oil and gas companies seeking to capitalize on the recent collapse in oil prices.

* Russian oil pipeline monopoly Transneft has rejected a proposal by energy giant Rosneft to cut transportation tariffs following the fall in oil prices, the latest twist in a long-standing row between the state companies. (Reporting by Olga Yagova and Gleb Gorodyankin. Editing by Mark Potter)

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