Asian Condensate Market & Oil Waivers

Asia Pacific Sweet Crude Daily Market Analysis / Key May-loading condensate program surfaces / US issues 30-day waiver to allow sale of already loaded Russian oil to India

Jun 03, 2026

The Asia-Pacific regional complex saw the emergence of several key condensate programs for May-loading as the trading week inches to a close. In the regional condensate complex, initial loading programs for Australian North West Shelf condensate surfaced, as two 650,000-barrel cargoes have been scheduled for May-loading, several trade sources said. BP is set to hold the first cargo loading over May 11-15, while Woodside Energy holds the other cargo scheduled to load over May 28-June 1. In the previous cycle, CNOOC was heard to have sold its condensate cargo loading over April 11-15 to South Korea’s Hanwha, with trade levels heard at slight discounts to Dated Brent crude assessments, FOB. Meanwhile, Woodside Energy’s cross-month condensate cargo loading over April 28-May 2 was heard to be still available in the spot...

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