Spot premiums for Middle East crude benchmarks eased on Tuesday as traders await results of tenders from Taiwan, India and Sri Lanka.

Indian refiner HPCL is expected to award a tender later on Tuesday.

Taiwanese refiner CPC issued a tender seeking sweet crude for February delivery. The tender will close on Wednesday with offers valid until Friday.

Sri Lanka’s Ceypetco has also issued tenders seeking Murban and U.S. West Texas Intermediate crude for delivery next year.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps fell 7 cents to 61 cents a barrel.

Unipec will deliver a January-loading cargo of Oman crude each to Trafigura and Glencore following the deals.

At Monday’s market close, BP will deliver a January-loading cargo of Upper Zakum crude to Trafigura while TotalEnergies will receive one cargo of Oman from Vitol and one cargo of Upper Zakum from ExxonMobil.

REFINERY

Nigeria’s Dangote has tapped Honeywell to provide services and help double its refining capacity to 1.4 million barrels per day by 2028, in what is the clearest indication yet that its plans to become the world’s largest petroleum refinery are bearing fruit.

NEWS

Russia sees scope to boost oil exports to China and to deepen cooperation on supplies of liquefied natural gas, Deputy Prime Minister Alexander Novak said on Tuesday in Beijing.

India’s Russian oil imports are set to hit their lowest in at least three years in December, down from multi-month highs in November, as refiners turned to alternatives to avoid breaching Western sanctions, trade and refining sources said.

Abu Dhabi state oil company ADNOC plans $150 billion of investment between 2026 and 2030, it said on Monday, seeking to maintain existing operations, drive growth and meet global energy demand.

Commodities trader BB Energy has laid off over a dozen people from its Houston office, and parted with some oil traders in a major restructuring of its operations, sources familiar with the matter said.

Vietnam’s Binh Son oil refinery is set to receive 1 million barrels of West Texas Intermediate crude in January, its second purchase in three months as it steps up imports from the United States, two sources familiar with the matter said on Tuesday.

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Source: Reuters