The share of North Sea Buzzard crude in the Forties oil blend fell to 21 percent last week from 25 percent in the period to June 12, according to BP Plc.
Daily Forties production is forecast to increase to 461,000 barrels in September from 399,000 barrels in August, BP said in a posting today on its website. The company operates the Forties Pipeline System.
Oil from Buzzard, the biggest in the Forties blend, will account for 25 percent of total production in September, compared with 40 percent a month earlier, BP said.
Forties is one of the grades that determine the price of Dated Brent, the benchmark for more than half of the world’s oil. The other blends are Brent, Ekofisk and Oseberg.