Vitol Seeks Urals Crude; Oseberg December Exports to Be Stable

Mercuria Energy Trading failed to sell North Sea Forties crude at a higher level than in the previous session. Vitol Group sought to buy Russian Urals in the Mediterranean at a lower price than its bid yesterday without success.

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

North Sea

Mercuria failed to sell Forties for loading Nov. 29 to Dec. 1 at a discount of 10 cents a barrel to Dated Brent, a Bloomberg survey of traders and brokers monitoring the Platts pricing window showed. The company yesterday sold a cargo for Nov. 13 to Nov. 15 at a discount of 70 cents.

Royal Dutch Shell Plc (RDSA) didn’t manage to buy Forties for Nov. 18 to Nov. 20 at a discount of 25 cents to Dated Brent, the survey showed.

BP Plc (BP/) sold Brent cargo B1105 for Nov. 24 to Nov. 26 to Shell at 15 cents a barrel less than Dated Brent, according to the survey.

BP failed to sell Ekofisk for Nov. 22 to Nov. 24 at 95 cents a barrel more than Dated Brent, while Shell was unsuccessful in bidding the grade at 58 cents above the benchmark for Nov. 15 to Nov. 18 or Nov. 27 to Nov. 30, according to the survey. Mercuria failed to sell Ekofisk for Nov. 29 to Dec. 1 at a premium of $1.

Shell was unable to buy Oseberg for Nov. 19 to Nov. 26 at 78 cents a barrel more than Dated Brent, 4 cents higher than its bid yesterday, the survey showed.

Brent for December settlement traded at $105.71 a barrel on the ICE Futures Europe exchange at the close of the window, compared with $105.81 in the previous session. The January contract was at $105.64, a discount of 7 cents to December.

Exports of Gullfaks and Statfjord for December will be unchanged at seven and five cargoes respectively, loading plans showed.

Urals/Mediterranean

In the Mediterranean, Vitol failed to buy 80,000 metric tons of Urals for Nov. 15 to Nov. 19 at 30 cents a barrel less than Dated Brent for delivery at Augusta, Italy, the survey showed. This compares with a premium of 20 cents yesterday for Nov. 14 to Nov. 18, which was the highest bid since July 24.

In northwest Europe, Gunvor Group Ltd. didn’t manage to buy 100,000 tons of Urals for Nov. 22 to Nov. 26 loading at a discount of $1.10 a barrel to Dated Brent on a delivered basis to Rotterdam, 5 cents more than its bid yesterday, the survey showed.

Saudi Arabian Oil Co., the world’s largest crude exporter, reduced the differential for Arab Light crude for loading from the Egyptian port of Sidi Kerir by 35 cents to a discount of $1.10 a barrel to the Brent futures weighted average, or BWAVE, said two traders who received the notice, asking not to be identified because the information is confidential.

Prices of all four crude grades from Sidi Kerir are 60 cents more than those shipped from Ras Tanura in the Persian Gulf for customers in the Mediterranean, compared with 50 cents for this month.

West Africa

PT Pertamina bought 950,000 barrels of Nigerian Qua Iboe crude for January delivery to its Cilacap refinery via a tender, said an official with Indonesia’s state-owned oil company.

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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