Trans Mountain Pipeline Aframax Lightering Analysis
May 3, 2024
Earlier this week, Reliance Industries purchased 2 million barrels of Canadian crude from Shell for July delivery. This marks the Indian refiner’s first oil purchase from the Trans Mountain pipeline. Shell will perform ship-to-ship (STS) transfers to move approximately four 500,000-barrel cargoes of Access Western Blend (AWB) onto a VLCC for final discharge to the Sikka port, where Reliance operates the world’s largest refining complex. The 2-million-barrel stem is reported to be $6/bbl less than ICE Brent for September. Therefore, we estimate the crude is sold at ~$80/bbl on the delivered basis as ICE Brent ...
Trans Mountain Pipeline Aframax Lightering Analysis
May 3, 2024
Earlier this week, Reliance Industries purchased 2 million barrels of Canadian crude from Shell for July delivery. This marks the Indian refiner’s first oil purchase from the Trans Mountain pipeline. Shell will perform ship-to-ship (STS) transfers to move approximately four 500,000-barrel cargoes of Access Western Blend (AWB) onto a VLCC for final discharge to the Sikka port, where Reliance operates the world’s largest refining complex. The 2-million-barrel stem is reported to be $6/bbl less than ICE Brent for September. Therefore, we estimate the crude is sold at ~$80/bbl on the delivered basis as ICE Brent ...
Trans Mountain Pipeline Aframax Lightering Analysis
May 3, 2024
Earlier this week, Reliance Industries purchased 2 million barrels of Canadian crude from Shell for July delivery. This marks the Indian refiner’s first oil purchase from the Trans Mountain pipeline. Shell will perform ship-to-ship (STS) transfers to move approximately four 500,000-barrel cargoes of Access Western Blend (AWB) onto a VLCC for final discharge to the Sikka port, where Reliance operates the world’s largest refining complex. The 2-million-barrel stem is reported to be $6/bbl less than ICE Brent for September. Therefore, we estimate the crude is sold at ~$80/bbl on the delivered basis as ICE Brent ...
