SINGAPORE: Vietnam’s PV Oil has awarded a tender to sell Dai Hung crude loading in the first half of 2018 to the country’s only refinery, traders said on Friday, in a move that could keep exports low.
VIETNAM: PV Oil awarded 1.6 million barrels of Dai Hung crude loading in the first half of 2018 to Binh Son Refinery and Petrochemical Co, the operator of Vietnam’s sole refinery, traders said. PV Oil had offered the supplies at $3.95 a barrel above dated Brent and reduced it to $3.20 a barrel in the last round, one of them said. “The executed level should be lower,” he said. The deal could not be independently verified.
INDONESIA: Indonesia’s oil production for 2017 was at 803,800 barrels per day, narrowly missing its target of 815,000 bpd, Amien Sunaryadi, chief of the country’s upstream oil and gas regulator SKK Migas, told reporters on Friday.
Production from the Cepu block was estimated at 204,200 bpd, exceeding the target of 201,500 bpd, he said.
Separately, the regulator has set a target of $12.6 billion for upstream oil and gas investment in 2018.
There were three cargoes scheduled to load in February due to a shorter production period.