SINGAPORE, May 17 (Reuters) - Asian gasoil margins recouped the previous session's losses on
Friday, boosted by demand from Egypt and Sri Lanka and a crude distillation unit shutdown in
India, trade sources said.
The June gasoil crack gained 85 cents to $16.78 a barrel above Dubai crude, Reuters data
showed.
Egyptian General Petroleum Corp (EGPC) is seeking up to 1.08 million tonnes of gasoil for
delivery into Suez port over July to December, a tender document showed.
Its semi-annual term requirement comes even as the company is seeking three spot cargoes
totalling 175,000 tonnes of gasoil for delivery in July in a separate tender that closes on May
21.
Spot demand from Sri Lanka also supported with state-owned Ceylon Petroleum Corp seeking
300,000 barrels for delivery in July. Its spot volumes are expected to increase after its term
contract with PetroChina ended in May, traders said.
A fire broke out late on Thursday at state-run refiner Hindustan Petroleum Corp Ltd's
Visakhapatnam refinery on India's east coast, officials at the unit said.
The fire, which was put out immediately, resulted in the shutting down of a 60,000 barrels
per day (bpd) crude distillation unit at the refinery, one of them said.
It is not clear how long the unit will be shut, but could potentially stoke demand from the
refinery given it coincides with peak summer demand for diesel.
Iran will more than double its diesel exports to Iraq thanks to higher capacity at its
refineries, a leading oil official said.
Tehran will supply up to 5 million litres a day of diesel, increasing the volume of an
earlier agreement between the OPEC member neighbours, the director of the National Iranian Oil
Refining and Distribution Company (NIORDC) said.
This could in turn reduce Iraq's diesel imports from Asia or Middle East, traders
speculated.
* TENDERS: Ceypetco is seeking 300,000 barrels of 0.25 percent sulphur gasoil for July 9 to
10 delivery. The tender closes on June 11, with up to 72-hours of validity.
- EGPC is seeking 30 cargoes of 34,000 to 36,000 tonnes each of 0.1 percent sulphur gasoil
for July to December delivery. The tender closes on May 28 and is valid until June 14.
* SINGAPORE CASH DEALS: No trades reported.
MID-DISTILLATES
CASH ($/T) ASIA CLOSE Change % Change Prev RIC
Close
Spot Gas Oil 0.5% 115.38 1.81 1.59 113.57 (GO-SIN)
GO 0.5 Diff -2.10 0.00 0.00 -2.10 (GO-SIN-DIF)
Spot Gas Oil 0.25% 116.68 1.81 1.58 114.87 (GO25-SIN)
GO 0.25 Diff -0.80 0.00 0.00 -0.80 (GO25-SIN-DIF)
Spot Gas Oil 0.05% 118.11 1.84 1.58 116.27
GO 0.05 Diff 0.63 0.03 5.00 0.60 >
Spot Gas Oil 119.48 1.81 1.54 117.67 0.001%
GO 0.001 Diff 2.00 0.00 0.00 2.00 Spot Jet/Kero 116.27 1.85 1.62 114.42 (JET-SIN)
Jet/Kero Diff -0.30 0.00 0.00 -0.30 (JET-SIN-DIF)
SWAPS ($/T) ASIA CLOSE Change % Change Prev PM (1130 GMT)
(0830 GMT) Close
Brent M1 103.76 0.85 0.83 102.91
Gasoil M1 117.40 1.80 1.56 115.60
Gasoil M1/M2 0.37 0.08 27.59 0.29
Gasoil M2 117.03 1.72 1.49 115.31
Regrade M1 -0.78 0.03 -3.70 -0.81
Regrade M2 -0.19 0.06 -24.00 -0.25
Jet M1 116.62 1.83 1.59 114.79
Jet M1/M2 -0.22 0.05 -18.52 -0.27
Jet M2 116.84 1.78 1.55 115.06
Gasoil 16.78 0.85 5.34 15.93
500ppm-Dubai
Cracks M1
Gasoil 16.85 0.77 4.79 16.08
500ppm-Dubai
Cracks M2
Jet Cracks M1 16.00 0.91 6.03 15.09
Jet Cracks M2 16.70 0.92 5.83 15.78
East-West M1 2.88 -0.31 -9.72 3.19
East-West M2 -1.52 0.12 -7.32 -1.64
LGO M1 871.75 13.50 1.57 858.25
LGO M1/M2 -1.50 1.25 -45.45 -2.75
LGO M2 873.25 12.25 1.42 861.00
Crack LGO-Brent M1 13.45 0.79 6.24 12.66
Crack LGO-Brent M2 13.88 0.58 4.36 13.30
(Reporting by Jessica Jaganathan, editing by William Hardy)
