Asia-Pacific Crude-Heavies down as CPC scraps tender

SINGAPORE, June 22 (Reuters) - The Asia-Pacific heavy crude market fell on Monday after Taiwan's CPC Corp cancelled its tender for August heavy sweet crude on high offer prices.

Last week, a small cargo of Indonesian heavy sweet Duri crude was traded at a premium of $5.0 a barrel to Duri Indonesia Crude Price.

"It's getting crazy. We have no appetite to buy at this level," said a trader.

China's implied oil demand rose 6 percent in May over a year ago, its fastest growth since August 2008 as oil firms produced at record rates on a recovering economy and buyers stocked up ahead of an official price hike. [ID:nPEK93887]

*TENDER AWARDS

- Taiwan's CPC Corp has cancelled a tender to buy 300,000 barrels of heavy sweet crude for August arrival due to high offer prices, a trade source said on Monday. [ID:nSP492216]

- India's state-run Bharat Petroleum Corp (BPCL.BO) bought one million barrels of Azeri Light crude for August loading from BP at a discount of about 10 cents to Dated Brent on Friday traders said. [ID:nDEL250284]

* NEW TENDERS

- Vietnam's state oil marketer PV Oil has issued a tender offering 200,000 barrels of light sweet Rang Dong crude, traders said on Monday. [ID:nT270674]

*MARKET NEWS

- Iran overtook Saudi Arabia in May as China's top crude supplier, Chinese customs data showed on Monday, but traders said it was partly due to a supply cut from the Saudis. [ID:nPEK96329]

- South Korea's STX Corp (011810.KS) is in talks with Indonesia's state oil firm, Pertamina, on joining a $3 billion oil refinery project in Southeast Asia's biggest economy, a Pertamina official said. [ID:nJAK479918]

- Indian oil minister Murli Deora on Monday said the government had no immediate plans to raise retail prices of petrol and diesel. [ID:nBMA003189]

*CRACK SPREADS

- The gas oil crack fell 15 cents to stand at $8.05 a barrel above Dubai swaps. GO-1M-CK-A.

- The fuel oil cracks spread firmed 75 cents from Friday to minus $6.90 to Dubai swaps on Monday. FO180-1M-CK-A.