Statoil Buys Forties Crude; Nigeria Boosts February Shipments

Statoil ASA bought a cargo of North Sea Forties crude at a lower price than the previous trade. Glencore International Plc sold Russian Urals grade at a smaller discount than the last deal.

Nigeria plans to boost crude exports in February to the highest level in six months as Africa’s largest oil producer continues to recover from floods and halts in output, loading programs obtained by Bloomberg News showed.

North Sea

Royal Dutch Shell Plc sold Forties lot F0105 at 60 cents a barrel more than Dated Brent to Statoil, a survey of traders and brokers monitoring the Platts pricing window showed. That compares with a Dec. 17 deal at plus 65 cents.

Trafigura offered the crude for loading from Jan. 13 to Jan. 15 at a premium of 90 cents to Dated Brent, 1 cent higher than 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 fell 1 cents to 75 cents more than Dated Brent, data compiled by Bloomberg show.

Brent for February settlement traded at $109.81 a barrel on the ICE Futures Europe exchange in London at the close of the window, compared with $109.79 in the previous session. The March contract was at $108.97, a discount of 84 cents to February.

Daily exports of the 12 main grades of North Sea crude for loading in January will drop 7 percent to the lowest in three months, loading programs obtained by Bloomberg News showed.

Shipments of Brent, Forties, Oseberg, Ekofisk, Statfjord, Gullfaks, Alvheim, Aasgard, DUC, Flotta, Grane and Troll blends will total 56.73 million barrels, or 1.83 million barrels a day. That compares with a revised 1.97 million barrels this month and 1.8 million in October.

Mediterranean/Urals

BP Plc purchased 100,000 metric tons of Urals for delivery to northwest Europe at a 50-cent discount to Dated Brent on a delivered basis to Rotterdam, according to the Platts survey.

Eni SpA and Shell bought via a tender Urals from OAO Surgutneftegas for loading next month from two Baltic Sea ports, according to two people with knowledge of the matter.

Shell purchased one shipment for loading from Primorsk on Jan. 10 and Jan. 11 while Eni bought a Jan. 8 to Jan. 9 lot from the same port and a second consignment loading Jan. 5 to Jan. 6 from Ust-Luga, the people said, asking not to be identified because the information is confidential. Each cargo is for 100,000 tons.

The Urals differential to Dated Brent in the Mediterranean was unchanged at minus 30 cents, according to data compiled by Bloomberg. In northwest Europe, the discount to Dated Brent decreased 2 cents to $1.03, the data showed.

TNK-BP, the Russian oil producer being bought by OAO Rosneft, is seeking to sell 100,000 tons of ESPO Blend crude for loading in February, according to a tender document obtained by Bloomberg News.

The company is offering the cargo from the Pacific port of Kozmino from Feb. 22 to Feb. 25, the document showed. The tender closes tomorrow at 1:30 p.m. Moscow time and bids are valid until close of business in London on the same day.

West Africa

Nigeria will export 67 cargoes in February totaling 61.4 million barrels, or 2.19 million barrels a day, according to the plans. That compares with 2.16 million barrels a day scheduled for loading in January and is the most since August, when exports averaged 2.27 million barrels a day.

Qua Iboe blend gained 2 cents to at $2.68 a barrel more than Dated Brent, according to data compiled by Bloomberg. That’s close to an eight-month high at $2.72 on Dec. 10.

Angola will cut exports of Saturno crude in February to one cargo of 950,000 barrels, one less than January, according to a preliminary loading program obtained by Bloomberg News.

Chad plans to export three cargoes of 950,000 barrels each of Doba in February, one less than January, a loading program obtained by Bloomberg News showed.

Bharat Petroleum Corp., India’s second-largest state refiner, bought Nigerian and Angolan crudes from Chevron Corp. for loading in February, according to two people with knowledge of the matter.

The company purchased 1 million barrels each of Nigerian Agbami and Angolan Nemba grades for loading from Feb. 1 to Feb. 10, said the people, declining to be identified because the information is confidential.

To contact the reporter on this story: Rupert Rowling in London at rrowling@bloomberg.net

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

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