SINGAPORE: Qatar is reducing the volume of Qatar Marine crude it will ship to Asia this month due to a production issue at one of the fields, trade sources said on Thursday.
The producer is supplying 5 percent less oil for each cargo being loaded this month, they said. This may result in a 500,000-barrel reduction, or about one cargo less, for October.
In addition, Tasweeq, the state owned marketer, has also asked Asian refiners to defer loading their October cargoes, wherever possible, and make up for the lost volumes next month, two buyers said. But both buyers have turned down the request because of high winter fuel demand requirement.
"We can't accommodate this time because our November program has already been fixed," one buyer said, declining to be identified as he is not authorized to talk to the media.
Tasweeq could not be immediately reached for comment. It remained unclear what the technical issue was, which field was affected and how long the supply disruption will last. "Time will tell if it is a deeper issue," a trader with a Western firm said.
Qatar Marine is a blend of crude obtained from six main off-shore production fields namely Bul Hanine, Maydan Mahzam, Idd El Shargi North Dome (ISND), Idd El Shargi, Al-Khalij and Al Karkara.
Besides Qatar Petroleum, other equity holders include Occidental Petroleum, Total SA and Qatar Petroleum Development-Japan (QPD).
Qatar cuts Marine crude supply on technical issue
