BP ships Alaskan North Slope oil to Japan

OREANDA-NEWS. May 18, 2016. BP Alaskan Jones Act tanker Alaskan Legend has departed from the Port of Valdez, Alaska, for the Port of Sendai, Japan, carrying Alaskan North Slope (ANS) crude.

It is expected to arrive at Sendai on 2 June. JX Nippon Oil and Energy operates a 145,000 b/d refinery in Sendai.

The ANS discount to May CMA Ice Brent remained between \\$1.48-\\$1.09/bl for a volume weighted average discount of \\$1.25/bl during May trade, which took place from 22 March through 6 April.

The estimated differential to May CMA Ice Brent for ESPO Blend delivered to Yeosu, South Korea, by 100,000t vessel remained between a discount of \\$1.00/bl and a premium of \\$1.18/bl during May ESPO trade, which took place from 17 March through 8 April.

Argus does not assess the cost of freight from Kozmino to Japan.

ConocoPhillips exported ANS to the 775,000 b/d GS Caltex refinery in Yeosu in 2014 and 2015, but no other exports of ANS have taken place for at least a decade.

The ANS discount to CMA Ice Brent was much deeper when the ConocoPhillips exports took place in October 2014 and April 2015.

The ANS discount to CMA Ice Brent in October 2014 trade averaged \\$4.64/bl and in April 2015 trade averaged \\$3.97/bl, the deepest average discount of that year.