In April, Russian oil Urals still lost its position in Europe feedstock Arab Light grade that Saudi Aramco supplies at a huge discount. About it reports the news service of a price Agency Argus.
“In North-West Europe… Saudi Aramco set the April contract price of Arab Light parties on the discount level of 10.25 per barrel (delivery FOB RAS Tanura) to Brent. While in March the discount on variety in the region accounted for only 2.25 USD per barrel”, — said the Agency.
In the material with reference to data of analytical system Vortexa indicates that many processors have attracted such conditions. So, the purchase of crude oil increased Aramco, Shell, Total, OMV, Repsol and Cepsa.
“Shipments of Saudi oil to the Netherlands, where there are large tanks in April may be about 1.42 million tons, twice the March level. During this period, the total volume of the batches of Urals, on the contrary, will decrease on 41%, to less than 935 thousand tons,” writes Argus.
The export of Saudi oil increased, and Poland. In April, the port of Gdansk has to do almost 500 thousand tons of oil from the Kingdom vs 398 thousand in March. In the beginning of April in Gdansk came only one party in the Urals by 66.5 thousand tons, purchased in March. Last month in Poland, received five batches of sea Urals, totaling nearly 377 thsd tonnes.
Urals still goes to Europe via pipelines
“However, the main volumes of Russian oil will continue to be pumped to Poland by pipeline “Druzhba” in the framework of long-term contracts”, — stated in the material. But at the same time indicated that no party in the Urals for the first time since may of 2018 will be available in April in Turkey. Thus, the Turkish refiner Tupras has decided to purchase one cargo of Arab Light.
Minister of energy of Russia Alexander Novak in early April, stressed that Russian companies have no problems with the placement of oil on the market. Contrary after the collapse of the previous deal OPEC+ conditions, all the raw materials have been placed in full. As for may, the Bloomberg Agency earlier in April announced that pricing for Europe on the marches of Arab Light Saudi Arabia upheld.
© 2020, paradox. All rights reserved.