BP Sells Forties Crude; BTC Azeri October Exports to Drop 16%

BP Plc sold a North Sea Forties crude cargo at a higher price than the previous trade. OAO Lukoil sold Russian Urals blend in the Mediterranean at the lowest level in more than two months.

Daily exports of Azeri Light crude from a port in Turkey will decrease by 16 percent in October from this month, according to a loading program obtained by Bloomberg News.

North Sea

BP sold Forties lot F0910 for Sept. 27 to Sept. 29 loading to Royal Dutch Shell Plc at 20 cents a barrel more than Dated Brent, according to a Bloomberg survey of traders and brokers monitoring the Platts trading window. This compares with a cargo BP sold on Sept. 5 at a discount of 75 cents.

Total SA didn’t manage to buy any Brent, Forties or Ekofisk for Sept. 25 to Oct. 6 at parity to Dated Brent, unchanged from its bid yesterday, 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 36 cents a barrel less than Dated Brent, compared with a discount of 42 cents yesterday, data compiled by Bloomberg show.

Brent for October settlement traded at $113.82 a barrel on the ICE Futures Europe exchange in London at the close of the window, down from $114.77 yesterday. The November contract was $113.39, a discount of 43 cents to October.

Exports of Statfjord will increase to five cargoes in October, one more than September, while Aasgard loadings will be eight lots versus seven this month, according to shipping plans obtained by Bloomberg News. All shipments for October are 855,000 barrels each.

Shipments of Grane will rise to five consignments of 600,000 barrels each from four in September, while exports of Gullfaks will be unchanged at five cargoes of 800,000 barrels each, plans showed.

Statoil ASA said its Troll A oil and natural gas processing plant in the North Sea will halt power consumption because of maintenance from Sept. 10 to Sept. 22, according to a filing with the Nord Pool Spot AS exchange.

Mediterranean/Urals

Lukoil sold 80,000 metric tons of Urals for loading on Sept. 18 to Sept. 22 to Petraco Oil Co. at $1.10 a barrel less than Dated Brent on a delivered basis to Augusta, Italy, the lowest level since June 19, according to the survey. This compares with a discount of 70 cents for a trade on Aug. 23.

Vitol Group failed to sell 80,000 tons of the crude for Sept. 17 to Sept. 21 at 85 cents a barrel less than Dated Brent, the survey showed.

No bids or offers were made for Urals in northwest Europe. The blend dropped 4 cents to a discount of $1.44 a barrel to Dated Brent for delivery in the region, data compiled by Bloomberg showed.

Shipments of Azeri Light from the Baku-Tbilisi-Ceyhan pipeline will total 17.8 million barrels, or 574,000 barrels a day, compared with 680,000 barrels a day in September, the schedule showed.

TNK-BP issued its annual tender to sell Urals for loading in 2013 from the Baltic ports of Primorsk and Ust-Luga and the Black Sea port of Novorossiysk, three traders who participate on the market said.

The tender is for zero to three 100,000 ton cargoes per month from the Baltic ports, and as many as three 80,000 ton shipments as well as one or two 140,000 ton lots from the Black Sea port, according to the people, who declined to be identified because the information is confidential. The tender closes on Sept. 20. The volumes will be decided by the seller.

West Africa

Indian Oil Corp. bought via a tender 1 million barrels each of Nigerian Qua Iboe and Bonga crudes for loading in November from Glencore International Plc, according to two traders with knowledge of the matter.

Qua Iboe fell 2 cents to $1.64 a barrel more than Dated Brent, 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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