Due to operational issues, November exports of Malaysia's light sweet Kimanis crude will be slashed by roughly 30%.
Production at the Gumusut-Kakap field was disrupted by a leak in a compressor unit. Loadings have been delayed by 8-10 days.
For November, exports are now set at 100,000 bpd on five 600,000-barrels cargoes. In the preliminary schedule released earlier this month, it was planned at 140,000 bpd across seven 600,000-barrels shipments.
Two cargoes have been removed from the preliminary program. Petroliam Nasional Bhd. (Petronas) cut one cargo to one on 21-25 November, while Thailand’s PTT will not load any Kimanis in November.
Cargoes for PetroBrunei and Indonesia’s Pertamina are delayed to 12-16 November and 17-21 November, respectively. Shell and US firm ConocoPhillips will load one cargo each, on 26-30 November and 30 November-4 December, respectively.
Looking forward, the drop in Kimanis supplies would likely spur spot premiums for November cargoes.
