国外期货轻质原油（秘鲁轻质低硫原油或打入国际市场）

国外期货轻质原油（秘鲁轻质低硫原油或打入国际市场）Peru typically has a Panamax-sized vessel (360 000 barrels) of Loreto crude 18.1 API and 1.3% sulfur content every other month for export. Buyers are usually Chevron in California or Spain’s Repsol for its Peruvian refinery.Petroperu could find itself an exporter of a light crude that is known as “crudo del noroeste” never before seen in international exports as it is refined with heavier grade

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【S&P Global网8月27日报道】据悉，秘鲁国家石油公司（PetroPeru）正在考虑于明年出口轻质低硫原油，预计今年年底将做出最终决定。此次引发出口的主要原因是该国的塔拉拉炼油厂（Talara）将进行为期一年的停产，工厂维护将于2020年3月或4月开始。为Petroperu提供石油的五家生产商预计将不会增加产量，因此秘鲁是否会进入市场，以及在塔拉拉炼油厂改进完成后是否会继续出口轻质低硫原油，尚不可知。

Peru’s light sweet crude has window of opportunity in international market

Peru’s state refiner Petroperu is looking at the possible export of a light sweet crude next year that could be ideal for refiners seeking to meet International Maritime Organization’s 2020 bunker fuel regulation.

A drastic reduction in sulfur levels of bunker fuels from 3.5% to 0.5% effective January 1 2020 will cause some refiners to buy crude oil with lower levels of sulphur.

Petroperu expects to have a decision on possible exports by the end of the year according to a source close to the refiner.

The main driver for Peru’s state oil company to export is a planned year-long shutdown at its 62 000 b/d Talara refinery for maintenance starting in March or April 2020.

Petroperu could find itself an exporter of a light crude that is known as “crudo del noroeste” never before seen in international exports as it is refined with heavier grades by Petroperu including heavy sour Loreto crude. The crude has a gravity of 37 API and 0.2% sulfur content and is produced in the northwest of the country.

Peru typically has a Panamax-sized vessel (360 000 barrels) of Loreto crude 18.1 API and 1.3% sulfur content every other month for export. Buyers are usually Chevron in California or Spain’s Repsol for its Peruvian refinery.

Production of the light sweet crude stands at 35 000 b/d. At those rates Petroperu could have a Suezmax or two Aframax-sized vessels or three Panamax-sized vessels per month for export. Of the 1 million barrels per month of production Petroperu could likely consume no more than 10% of that volume at its 15 000 b/d Conchan refinery.

Petroperu receives the light sweet crude from several blocks operated by five independent producers.

Olympic Petroleum produces about 2 000 b/d from its Lote XIII while China’s CNPC is the largest producer with 12 000 b/d from Lote X. SAPET produces from Lots VI and VII while GMP produces from Lot I XX IV and V and Savia produces from Lot Z2B.

However no increase in production is expected in the next year from these producers so it is not certain if Peru enters the market to offer this crude that it would continue to export this crude once the Talara improvements are completed.

This type of crude would be ideal during IMO 2020 for refiners that do not have coking units or desulfurization units as their only means of reducing sulfur will be through refining “sweet” or low-sulfur grades of crude. These include crudes produced by the United States Nigeria and – increasingly – Argentina’s Vaca Muerta shale play.

This is a crude that is currently delivered to Petroperu’s refining assets. Although Petroperu does not have an assay the crude is considered to be light and sweet.

Once the refinery is upgraded it is not known if Petroperu will be able to refine a light sweet crude or will seek a heavier more sour grade of crude.

( 译者：丁阿雪 审校：刘会兰 )

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