BP Sells Forties Crude; Oct. North Sea Oseberg Loadings to Rise

BP Plc (BP/) sold North Sea Forties crude at the same level it purchased two days ago. There were no bids or offers for Russian Urals blend.

Exports of Oseberg crude for November are planned at eight cargoes of 600,000 barrels each, up from six this month, according to a loading program obtained by Bloomberg News.

North Sea

BP sold Forties cargo F1012 for Oct. 22 to Oct. 24 loading to Total SA at a premium of 30 cents a barrel to Dated Brent, according to a Bloomberg survey of traders and brokers monitoring the Platts pricing window. BP bought the lot from Vitol Group on Oct. 2.

Royal Dutch Shell Plc sold lot F1013 for Oct. 24 to Oct. 26 to BP at 35 cents more than the benchmark, the survey showed. BP was also bidding for Oct. 24 to Oct. 31 at plus 35 cents.

Brent for November settlement traded at $109.01 a barrel on the ICE Futures Europe exchange at the close of the window, compared with $109.04 from the previous session. The December contract was at $108.12, a discount of 89 cents to November.

Oseberg shipments for next month will total 4.8 million barrels, or 160,000 barrels a day, compared with 116,129 barrels a day for October, the plan showed. Brent, Ekofisk and Forties loading programs are due on Monday.

Shipments from Dansk Undergrunds Consortium, producer part owned by A.P. Moeller-Maersk, will be six lots, two more than this month, according to a loading program obtained by Bloomberg News. Exports will total 3.6 million barrels, or 120,000 barrels a day, up from 77,419 barrels a day in October. Alvheim loadings will remain unchanged at four lots of 780,000 barrels in November.

Clair crude loadings are set to resume in November after about three months of maintenance. One 600,000-barrel cargo of the grade is scheduled to load next month, according to a loading program obtained by Bloomberg News.

Alba loadings will increase to two 575,000-barrel lots in November, one more than this month, while Captain exports will remain unchanged next month at two 525,000-barrel cargoes.

Urals/Mediterranean

Urals last traded on Oct. 1 at a 70-cent a barrel discount to Dated Brent on delivered bases to Augusta, Italy for loading Oct. 15 to Oct. 19 from the Black Sea port of Novorossiysk.

PKN Orlen, Poland’s largest oil company, bought 100,000 metric tons of Urals to Vitol for delivery to Lithuania’s Butinge terminal on Oct. 19 to Oct. 23, two people who participate in the market said, asking not to be identified because the information is confidential.

A Urals cargo allocated to OAO Rosneft for loading Oct. 14 to Oct. 15 from the Baltic port of Ust-Luga has been dropped from the loading program, according to three traders with knowledge of the shipping schedule. A free position to load a shipment on Oct. 20 to Oct. 21 has been filled by Rosneft, the traders said. Another open slot for Oct. 27 to Oct. 28 is yet to be allocated. All consignments are 100,000 tons.

Iraq expects to increase crude exports in October after it finishes port maintenance, Asim Jihad, a spokesman for the oil ministry said by phone today from Baghdad. The country exported 2.07 million barrels a day last month.

Crude flows of Azeri Light to the Turkish port of Ceyhan halted at 8.00 a.m. local time yesterday according to Boutros Maritime & Transport. Planned maintenance will be carried out for about 36 hours.

West Africa

Shell lifted force majeure on Bonny Light exports yesterday after it re-opened the 24-inch Trans Niger Pipeline following repairs, according to an e-mailed statement. The sales restriction was placed on Sept. 23.

Repair works on 28-inch Trans Niger Pipeline and Nembe Creek Trunkline are still progressing, Shell said.

Indian Oil Corp. didn’t buy west African crude in its latest November tender, procuring 1 million barrels of Abu Dhabi’s Murban crude instead, said three traders who participate in the market, asking not to be identified because the information is confidential. IOC bought eight November cargoes of Nigerian grades in two previous tenders, including five Qua Iboe shipments.

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