BP Offers Azeri Crude; BFOE September Exports at Four-Month High

BP Plc (BP/) failed to sell Azeri Light at a higher price than the previous bid. No bids or offers were made for North Sea Forties crude after the loading program showed an increase in September exports.

Daily exports of North Sea Brent, Forties, Oseberg and Ekofisk crudes, which make up the Dated Brent benchmark, will jump to a four-month high in September, loading programs obtained by Bloomberg News showed.

North Sea

No bids or offers were made for Brent, Oseberg and Ekofisk. Reported crude trading typically occurs during the Platts window, which ends at 4:30 p.m. London time.

Brent for September settlement traded at $107.55 a barrel on the ICE Futures Europe exchange at the close of the window, compared with $107.84 in the previous session. The October contract was at $106.39, a discount of $1.16 to September.

Shipments of BFOE grades will increase 11 percent to average 880,000 barrels a day versus a revised 793,548 barrels in August, according to the plans. That’s the most since May.

Forties exports rose to 18 cargoes of 600,000 barrels each, four more than this month, a shipping plan showed.

Exports of Aasgard fell to two lots in September from seven this month because of a planned maintenance, said four people with knowledge of the matter.

Shipments of Grane for September will be unchanged at four lots of 600,000 barrels each, according to a shipping schedule.

Buzzard field is resuming after being shut due to planned maintenance on Forties Pipeline System from Aug. 1 to Aug. 5, Karen Fordyce, a spokeswoman for Nexen Inc., said today by phone from Aberdeen, Scotland. Full output usually takes a few days, she said.

Mediterranean/Urals

BP failed to sell 600,000 barrels of Azeri Light for loading Aug. 23 to Aug. 27 at $4.75 a barrel more than Dated Brent, a Bloomberg survey of traders and brokers monitoring the Platts pricing window showed. That compares with a bid at a premium of $3.95 done on Aug. 2.

There were no bids or offers for Russian Urals crude.

The free position for Urals on Aug. 25 to Aug. 26 loading from Primorsk on the Baltic Sea remained unfilled, said two traders who asked not to be identified as the information is confidential.

If the slot is not allocated, total exports from Primorsk will be revised down by 100,000 metric tons to 3.7 million tons this month, according to a loading program.

Es Sider, Libya’s main export terminal with a capacity of 300,000 barrels a day, remained shut for an 11th day after its closure July 28, Port Coordinator Captain Abdallah Eljali said today by phone.

A tanker with capacity of about 600,000 bbls arrived yesterday, raising total number of moored tankers at Es Sider to five, Eljali said.

Kirkuk exports from Turkish port Ceyhan resumed today at 10 a.m. local time, according to port agent Boutros Maritime & Transport SA. This is at least the seventh disruption since July 12.

West Africa

Vitol Group booked very large crude carrier Gulf Sheba to load Nigerian Qua Iboe crude for loading on Aug. 23 to Balikpapan in Indonesia, according to four tanker reports, including Athens-based Optima Shipbrokers. PT Pertamina operates the 260,000-barrel-a-day refinery in Balikpapan.

Vitol has two Qua Iboe cargoes for Aug. 23 to Aug. 24 and Aug. 25 to Aug. 26 loading, said three traders with knowledge of the matter.

Indian Oil Corp. and Mangalore Refinery & Petrochemicals Ltd. are scheduled to award their tenders for October-loading crude today. The results are not immediately available.

To contact the reporters on this story: Sherry Su in London at lsu23@bloomberg.net; Laura Hurst in London at lhurst3@bloomberg.net

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

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