Shell Sells Forties Crude; Indian Oil Buys Qua Iboe, Girassol

Royal Dutch Shell Plc sold North Sea Forties crude at a lower price than yesterday. No bids or offers were made for Russian Urals in Europe for a second day.

Indian Oil Corp. bought 4 million barrels of West African crudes for loading in October from Shell and Chevron Corp. via a tender, four traders who participate in the market said.

North Sea

Shell sold Forties cargo F0901 for Sept. 1 to Sept. 3 loading to Total SA at 55 cents a barrel more than Dated Brent, compared with a deal yesterday at a premium of 60 cents, according to a Bloomberg survey of traders and brokers monitoring the Platts trading window.

BP Plc failed to sell the blend for Aug. 26 to Aug. 28 at 71 cents more than Dated Brent, the survey showed.

Reported crude trading typically occurs during the Platts window, which ends at 4:30 p.m. London time. Before the session, Forties loading in 10 to 25 days was at 65 cents a barrel more than Dated Brent, the highest since March 16, compared with a premium of 44 cents yesterday, data compiled by Bloomberg show.

Brent for September settlement traded at $112.76 a barrel on the ICE Futures Europe exchange in London at the close of the window, up from $111.55 yesterday. The October contract was at $111.18, a discount of $1.58 to September.

Daily exports of Aasgard crude in September will increase by 5.8 percent from August, a loading program obtained by Bloomberg News showed.

The schedule comprises six cargoes of 855,000 barrels each and one shipment of 1 million barrels, totaling 204,333 barrels a day, the plan showed. This compares with seven lots of 855,000 barrels amounting to 193,065 barrels a day in August.

Loadings of Grane will drop to four shipments of 600,000 barrels, two less than August, according to a separate plan.

BP’s North Sea Unity Riser, an oil and gas facility, is in operations after shutting for maintenance on Aug. 1, spokesman Mark Salt said in an e-mail.

Mediterranean/Urals

Urals blend advanced 7 cents to a premium of 50 cents a barrel to Dated Brent in the Mediterranean, data compiled by Bloomberg show.

Iraq resumed pumping crude, including from the semi- autonomous Kurdish area, through an alternative pipeline, after a sabotage explosion halted shipments through the main link, according to North Oil Co.

The exports include an average of 75,000 to 100,000 barrels a day from oil fields in the northern Kurdish area, the Iraqi state company said in a statement. Shipments from northern Iraq are due to reach an average 400,000 barrels by the end of the month, it said.

West Africa

Indian Oil purchased 1 million barrels each of Nigerian Qua Iboe and EA from Shell, and 1 million barrels each of Nigerian Agbami and Angolan Girassol from Chevron, according to the people, who declined to be identified because the information is confidential.

Nigerian benchmark Qua Iboe rose 4 cents to $1.46 a barrel more than Dated Brent, the highest since June 19, according to data compiled by Bloomberg.

To contact the reporter on this story: Sherry Su in London at lsu23@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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