Trafigura Buys Forties; BFOE Crude Loadings to Rise 2% in Jan.

Trafigura Beheer BV bought North Sea Forties crude at a lower level than deals done yesterday. Vitol Group failed to sell Russian Urals at a level below yesterday’s.

Daily exports of North Sea Brent, Forties, Oseberg and Ekofisk crudes, which make up the Dated Brent benchmark, will rise 2 percent in January from December, once revisions are included, loading programs obtained by Bloomberg News showed.

North Sea

Trafigura bought Forties cargo F1215 for Dec. 17 to Dec. 19 from BP Plc at 15 cents a barrel more than Dated Brent, according to a Bloomberg survey of traders and brokers monitoring the Platts window. The blend was sold yesterday at plus 45 cents and plus 50 cents.

The trading house was also bidding for the grade at Dated Brent plus 55 cents for Dec. 28 to Jan. 3 loading. Mercuria Energy Trading SA was looking to buy Forties at plus 45 cents for Dec. 25 to Jan. 3, the survey showed.

Eni SpA was sold Ekofisk cargo C11476 for loading Dec. 26 to Dec. 28 at a premium of $1.30 a barrel to Dated Brent. That compares to the last trade in the window at plus 90 cents on Nov. 29. The cargo was originally due to load Dec. 24.

Brent for January settlement traded at $111.36 a barrel on the ICE Futures Europe exchange at the close of the window, compared with $111.70 in the previous session. The February contract was at $111.00, a discount of 36 cents to January.

Shipments of Brent, Forties, Oseberg and Ekofisk will average 987,097 barrels a day in January compared to a revised 967,742 barrels a day for this month, according to the plans.

The biggest increase in loadings come from Ekofisk, after an end-December cargo was deferred into January. Ekofisk’s January tally comprises 17 cargoes, versus a revised 15 for December. Seven cargoes on the December program have been deferred by two to three days, with cargo C11471 now scheduled to load in early January, according to two people with knowledge of the loading program, asking not to be identified citing company policy.

Forties shipments next month are scheduled at 21 consignments, one more than this month. January Brent loadings will drop to six cargoes, including a deferred December-loading cargo, compared with seven cargoes this month. Oseberg loadings are scheduled at seven cargoes, down from eight in December.

Loadings for Troll and Statfjord will remain unchanged next month at 14 and five lots respectively, while Alvheim and Grane will have four consignments each.

Production at Maersk Oil U.K. Ltd.’s Janice and GP3 facilities is expected to restart later today or early tomorrow pending the outcome of checks on the platforms, the company said today in an e-mailed reply to questions.

Storms that lashed parts of North West Europe have delayed tankers, John Dalsvaag, the vice president for chartering at Knutsen OAS in Haugesund, Norway, the world’s second-largest operator of tankers that shuttle oil from offshore installations, said by e-mail today. The U.K. ports of Grangemouth and Immingham both experienced flooding, according to Inchcape Shipping Services, a port agent.

Urals/Mediterranean

Vitol didn’t manage to sell 100,000 metric tons of Urals for loading Dec. 19 to Dec. 23 in northwest Europe at a discount of $1.45 a barrel to Dated Brent, the survey showed.

OAO Lukoil was looking to buy 80,000 tons of Urals for Dec. 21 to Dec. 25 at a 50-cent discount to the benchmark on a delivered basis to Rotterdam.

Socar Trading SA failed to sell 600,000 barrels of Azeri Light for Dec. 19 to Dec. 23 at $2.90 a barrel more than Dated Brent, the survey showed. The grade was last sold at a premium of $2 on Oct. 22.

Indonesian state-owned PT Pertamina bought 950,000 barrels of Algerian Saharan Blend and 600,000 barrels of Azeri Light crude for February delivery to the Balikpapan refinery, a company official said today, asking not to be identified because the information is confidential. Pertamina bought an additional 950,000 barrels of the Azerbaijani crude for February delivery to the Cilacap plant, the person said.

West Africa

Vitol was offering Qua Iboe crude for Dec. 19 to Dec. 20 loading at a premium of $1.60 a barrel to Dated Brent. The company was also looking to sell the grade at plus $3.95 for arrival at Rotterdam or Lavera, France, on Dec. 15 to Dec. 20, the survey showed. The trading house failed to sell Nigerian Bonny Light crude at the same price for Dec. 20 to Dec. 30 arrival at the same two ports.

Pertamina awarded two tenders yesterday. One is for Nigerian Qua Iboe, Bonny Light or Escravos for February to March or February to June period, and the other is a spot requirement for February delivery cargoes. The results weren’t immediately available.

To contact the reporter on this story: 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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