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Refiners in the Asia-Pacific region (APR) are showing increased interest in Russian oil Urals in the face of declining offers moderate alternative raw materials from the Middle East due to the OPEC agreement, according to the Agency Argus.Given the limited oil requirements of European companies that are major buyers in the Urals, the APR becomes the saving market for this oil, the report says.
The proportion of processors in the APR among all buyers of sea parties of Urals increased in January-may, up 21% compared with 7% a year earlier, the Agency cites company data Vortexa. One of the key importers of sea parties of the Russian grade was China. In January-may in this country was sent to 280 thousand Barr./day. Urals compared to less than 59 thousand Barr./day. the company informed.
In addition to China, the party of the Urals were shipped in the current year and in other Asia-Pacific countries, which rarely acquire this raw material. To South Korea in may imported more than 100 thousand Barr./day. Russian class for the first time from April 2018, according to shipping agents. This is largely due to the lack of stores in China. Unipec, trading arm of state-owned Sinopec, in April, redirected some volumes of Urals in Geoje (South Korea). There Unipec leases tanks from the South Korean state-owned company KNOC and usually offers the raw materials of these stores to its Chinese customers.
However, in conditions of limited supply of raw materials in moderate APR interest Urals showed other processors. In Desan (South Korea) June 6, was delivered to the party of the Russian varieties in a volume of 1 million barrels. (140 thousand tons), delivered on April 22 from storage in Ashkelon (Israel). This raw material is likely to be processed at the refinery in Decane capacity of 395 thousand barrels./day which belongs to the local Hyundai Oilbank, the Agency said.
After a long break resumed import Urals and Japan. June 25 at the port of Nagasaki, awaiting the arrival of the tanker Sea Lynx (deadweight – 318 kt), carrying over 2 million barrels. (280 kt) Russian varieties from the Baltic ports. It will be the first delivery of Urals to Japan at least four years. Russian oil can be recycled at the refinery in Oita (Kyushu island) with a capacity of 136 thousand Barr./day which belongs to JXTG. It can also be stored in nearby tanks in Cyprus (Pref. Kagoshima).
Two shipments of Urals 100 tonnes arrived from Ust-Luga to Malaysia on 18 and 29 may that, according Vortexa, was the first supply in the country for at least 3 years.
The implementation parties of the Russian varieties in the Asia Pacific region contributes to a decrease in shipments of middle East oil and its appreciation. So, the basic raw material for refineries in Decane and the ICU is usually the oil from Saudi Arabia and Kuwait.