Trafigura Sells Forties at Higher Price; Angola Exports to Rise

Trafigura Beheer BV sold North Sea Forties crude at a higher price. BP Plc (BP/) failed to buy Russian Urals crude at a smaller discount to Dated Brent.

Angola will boost crude exports for July to 53 cargoes, according to a preliminary loading plan obtained by Bloomberg News. This will total 50.9 million barrels, or 1.64 million barrels a day, compared with 49 million barrels, or 1.63 million barrels a day in June.

North Sea

Trafigura sold Forties cargo F0601 yesterday for June 1 to June 3 to Royal Dutch Shell Plc (RDSA) at 20 cents a barrel more than Dated Brent, up from a premium of 15 cents for a deal done on May 14, according to a Bloomberg survey of traders and brokers monitoring the Platts pricing window.

Shell failed to buy Oseberg for June 7 to June 9 at $1.25 a barrel more than Dated Brent, while Trafigura didn’t manage to sell Ekofisk for June 2 to June 4 at a premium of $1.30 to the benchmark, the survey showed.

Reported crude trading typically occurs during the Platts window, which ends at 4:30 p.m. London time. Forties loading in 10 to 25 days rose by 19 cents to a premium of 23 cents a barrel to Dated Brent.

Brent for June settlement traded at $104 a barrel on the ICE Futures Europe exchange at the close of the window yesterday, compared with $101.62 on May 15. The July contract was at $104.15 at the same time today, a premium of 15 cents to June.

China International United Petroleum & Chemical Corp., known as Unipec, booked a supertanker to haul North Sea crude to China, according to shipbroker reports.

If the cargo is loaded, it will be the first supertanker to carry North Sea crude to China in almost one year.

Unipec chartered the very large crude carrier Leo Glory to load from Hound Point in the U.K. on May 30 to China at a cost of $4.72 million to $4.75 million, according to four fixture lists including one from Athens-based Optima Shipbrokers Ltd. Brokers can report tanker charters when the accords are provisional and bookings are sometimes canceled.

Mediterranean/Urals

BP failed to buy 100,000 metric tons of Urals for June 1 to June 5 loading at 75 cents a barrel less than Dated Brent on a delivered basis to Rotterdam, the survey showed. This is 5 cents higher than a bid yesterday.

Urals in the Mediterranean rose 2 cents to a discount of 8 cents a barrel to Dated Brent yesterday, data compiled by Bloomberg showed. In northwest Europe, the discount was at 79 cents a barrel less than the benchmark, compared with a discount of 85 cents May 15.

West Africa

Benchmark Nigerian Qua Iboe blend fell by 10 cents to $3.07 a barrel more than Dated Brent yesterday, data compiled by Bloomberg showed.

Mangalore Refinery & Petrochemicals Ltd. (MRPL) issued a tender to buy low-sulfur crude for loading on July 1 to July 15, according to documents obtained by Bloomberg News. The tender closes at 9:30 a.m. local time on May 20 and offers are valid until 8 p.m. on May 22.

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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