BP Sells Fourth Forties Lot: Force Majeure Declared on Usan Oil
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BP Plc sold its fourth North Sea Forties crude cargo for loading in June at a higher differential than yesterday. Total SA bought Russian Urals in the Mediterranean at a bigger discount to Dated Brent than the previous trade.
Nigeria has stopped shipments of Usan grade today after a force majeure, a legal clause that protects a company from liability if it can’t fulfill a contract for reasons beyond its control, said two people with knowledge of the matter, who asked not to be identified because they are not authorized to comment publicly.