OREANDA-NEWS. March 20, 2015. Russian Urals crude price differentials slipped in northwest Europe on Thursday to their lowest levels since last December, as sellers were showing three cross-month cargoes in a move to get rid of prompt barrels.

Outside the window Eni was showing through Argus bulletin board and broker PVM one Urals cargo for loading in the Baltic on Mar. 28 - Apr. 4 down to dated Brent minus 2,47 a barrel, but failed to find a buyer, industry sources said. In the Platts price assessment window , Litasco sold to BP a 100,000 tonne cargo of Urals for loading on Mar. 31 - Apr. 4 at dated Brent minus \\$2,45 a barrel, traders told Reuters.

Vitol sold to Total a 100,000 tonne cargo of Urals for loading on Mar. 29 - Apr. 2 at dated Brent minus \\$2,50 a barrel, down 20 cents on the previous day. Traders believe that Vitol may have placed a cargo of Tanteft origin from Primorsk on March 29-30 (loading slot #33a).

Tatneft will export additional 100,000 tonnes of Urals crude from the Baltic port of Primorsk in March on top of the monthly loading schedule, industry sources said.

In the Mediterranean, Litasco offered an 80,000-tonne cargo for loading Mar. 31 - Apr.4 down to dated Brent minus \\$1.40 a barrel, but failed to spark any buying interest.

The price was 40 cents a barrel below Litasco's offer on Wednesday.

Despite falling Urals differentials in the Med, the arbitrage to the south is open, as the premium of Med cargoes over the Baltic is at around \\$1 a barrel, traders said.

Eni was actively bringing cargoes from the Baltic to the Med over the last few weeks, traders said.

Mid-sized Russian state oil firm Zarubezhneft is tendering to buy 80,000 tonnes of Urals crude for loading from the Black Sea port of Novorossiisk in April, the company reported on its website. Zarubezhneft is also selling 300,000 tonnes of Urals crude from Primorsk on a local exchange.

There was no activity in Azeri Light, while Total bid for a CPC Blend aframax at dated Brent minus \\$0.55, but found no sellers.

Iraq's southern oil exports have risen in March as poor weather that delayed cargoes in February cleared, putting OPEC's second-largest producer back within sight of record shipments.

Exports from Iraq's southern terminals have averaged 2.66 million barrels per day (bpd) in the first 18 days of March, according to shipping data seen by Reuters and an industry source.

Exports in all of February were 2.29 million bpd. Libya's National Oil Corporation (NOC) is working independently without taking orders from either of the country's rival governments, the Tripoli-based group said on Thursday.

The internationally-recognised government said on Tuesday it wanted to route oil exports through an eastern NOC entity under its leadership rather than via Tripoli, which has traditionally handled oil exports.