BTC Blend heads east

摘要

Exports of Caspian BTC Blend to Asia-Pacific are scheduled at a record high of 325,000 b/d in April, accounting for 43pc of total loadings of 754,000 b/d. The region has received just 18pc of BTC Blend exports since January 2014. Indian refiners Reliance and BPCL each took a 135,000t March cargo, while the grade’s main Asia-Pacific buyer, Indonesian Pertamina, loaded two of 135,000t. Azeri Socar is sending two very large crude carriers (VLCCs) to the region, one provisionally fixed for Singapore and one of 270,000t to Taiwan’s CPC. PetroVietnam received a 135,000t ship- ment for its 145,000 b/d Dung Quat refinery in late March.