Statoil Seeks Forties Crude; Vitol Offers Bonny Light, Escravos

Statoil ASA failed to buy North Sea Forties crude at a higher price than its previous bid. Vitol Group sought to sell Nigerian Bonny Light and Escravos on the Platts pricing window. No bids or offers were made for Russian Urals blend.

Royal Dutch Shell Plc booked very large crude carrier Artois to load Forties on Feb. 13 from Hound Point in Scotland for South Korea at a cost of $6.6 million, according to fixture lists from Optima Shipbrokers Ltd. and Marex Spectron. Ross Whittam, a London-based spokesman for Shell, declined to comment by phone.

North Sea

Statoil was unable to buy Forties for Feb. 11 to Feb. 16 loading at a premium of $1.40 a barrel to Dated Brent, 30 cents more than its bid on Jan. 17, according to a Bloomberg survey of traders and brokers monitoring the Platts pricing window.

Phillips 66 didn’t manage to buy Forties for Feb. 11 to Feb. 14 at $1.35 more than Dated Brent, the survey showed.

Brent for March settlement traded at $106.14 a barrel on the ICE Futures Europe exchange at the close of the window, compared with $106.80 in the previous session. The April contract was at $105.46, a discount of 68 cents to March.

BP Plc will bring forward maintenance at the Skarv oil and gas field to Jan. 22 from Jan. 28, the company said in a statement on its website, without specifying the end date.

The North Sea Golden Eagle development will pump its first oil late this year, Cnooc Ltd. said in a statement. “Once fully commissioned, Golden Eagle is expected to reach a peak daily production of up to 70,000 barrels of oil equivalent,” it said.

Urals/Mediterranean

OAO Surgutneftegas sold 100,000 metric tons of Urals for Feb. 8 to Feb. 9 loading from Primorsk on the Baltic Sea to OAO Lukoil, according to two people with knowledge of the tender.

PKN Orlen SA bought 100,000 tons of Urals for Feb. 4 to Feb. 8 delivery to Butinge terminal in Lithuania from Vitol, according to two traders who participate in the market.

Hellenic Petroleum issued a tender to buy 85,000 tons of CPC Blend for Feb. 10 to Feb. 14 delivery to Greece, said two traders who received the document. The tender closes tomorrow.

Libya’s Sarir oil field and pipelines are operating normally, state-run National Oil Corp. said on its website. The state news agency Lana denied fighting between tribes at the field on Jan. 19, citing a spokesman of the army’s 427th Battalion.

West Africa

Vitol offered 950,000 barrels of Nigerian Bonny Light or Escravos for delivery to Rotterdam at $5.20 a barrel more than Dated Brent, the survey showed. Bonny Light is for Feb. 10 to Feb. 15 arrival and Escravos for Feb. 5 to Feb. 10.

Taiwan’s state-run CPC Corp. issued a tender to buy low-sulfur crude for loading in March, according to a statement posted on its website. The tender closes tomorrow, with offers valid until Jan. 23.

To contact the reporter on this story: 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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