MOSCOW, May 26 (Reuters) – Urals crude oil differentials firmed in northwest Europe on Tuesday as Surgutneftegaz awarded a spot tender to sell a June cargo at a higher premium to dated Brent.
* Demand for Urals cargoes loading from Baltic ports in June was high as loadings of the grade were set lower than in May.
* Algeria’s state firm Sonatrach sharply raised its June official selling price (OSP) for its Saharan Blend crude oil to dated Brent plus 40 cents a barrel from a discount of $2.50 per barrel for May volumes.
TENDER
* Surgutneftegaz awarded a spot tender to sell a Urals cargo loading from Primorsk port on June 8-9 to Shell at a premium of about $1 a barrel to dated Brent when adding freight to the FOB (free on board) differential, traders said.
* The deal level was some 20 cents per barrel firmer than recent estimates.
* Surgutneftegaz also issued a spot tender on Tuesday to sell a cargo of 100,000 tonnes loading from Ust-Luga on June 13-14 and a cargo of 140,000 tonnes for loading on June 14-15 from Black Sea’s Novorossiisk, traders said.
* The tender closes on May 27 at 1400 Moscow time (1100 GMT).
PLATTS WINDOW
* There were no bids or offers for Urals, CPC Blend or Azeri BTC in the Platts window on Tuesday.
NEWS
* Russian Energy Minister Alexander Novak is due to meet oil majors to discuss the implementation of global oil production curbs and the possible extension of the current level of cuts beyond June, sources familiar with the plans told Reuters.
* Exports of Nigeria’s key crude oil grades Forcados and Qua Iboe will jump in July, while Bonny Light will edge slightly lower, loading programmes showed on Tuesday. (Reporting by Olga Yagova and Gleb Gorodyankin; Editing by Amy Caren Daniel)
