Possible shortage of heavy crude Widuri<\/p>\n
SINGAPORE (Reuters): Asia's heavy crude tightened yesterday on
\ntalk that Indonesia's monthly allocations for December could be
\nlower due to rising domestic demand, traders said.<\/p>\n
A parcel of December heavy Indonesian Widuri was sold to a
\nJapanese trader. The price level was heard to be ICP +70 cents
\nper barrel.<\/p>\n
This is higher that recent Minas trades done at ICP +45 cents.
\nWiduri usually trades at similar premiums to Minas.<\/p>\n
But traders said there were expectations that Cinta and Widuri
\nmonthly allocations in December could be reduced compared to
\nprevious months, prompting some buyers to bid aggressively for
\nthe grades.<\/p>\n
But they were uncertain if the December Minas volumes would
\nalso be cut.<\/p>\n
Indonesia is due to announce its December crude allocations on
\nMonday.<\/p>\n
In November Indonesia allocated a total of 46,000 barrels-per-
\nday (bpd) of heavy sweet Widuri and Cinta and 51,000 bpd of
\nMinas.<\/p>\n
Light Asian crude trading remained thin as traders waited for
\nmore definite information on how long Australia's Griffin field
\nwill be shut down.<\/p>\n
Griffin operator BHP Petroleum said on Thursday that it
\nplanned to disconnect the Griffin floating production storage and
\nofftake vessel off Western Australia and move it to a shipyard in
\nSingapore for repairs.<\/p>\n
But BHP was uncertain how long the vessel will be out of
\nproduction.<\/p>\n
Some traders had said that if the vessel was to be moved
\nelsewhere to be repaired, then it could take several months
\nbefore production would resume.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/possible-shortage-of-heavy-crude-widuri-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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