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Trafigura Offers Forties Crude; Surgut Tenders to Sell Urals

Dec. 19 (Bloomberg) -- Trafigura Beheer BV failed to sell a cargo of North Sea Forties crude, the first offer to emerge in about five days. Statoil ASA and Royal Dutch Shell Plc didn’t find sellers for the grade for a third day as they bid at the same price as yesterday.

OAO Surgutneftegas, Russia’s fourth-largest oil producer, issued a tender to sell three cargoes of Urals blend for loading in January from two Baltic ports, according to a document obtained by Bloomberg News.

North Sea

Trafigura offered Forties for loading from Jan. 13 to Jan. 15 at a premium of 89 cents a barrel to Dated Brent, a survey of traders and brokers monitoring the Platts pricing window showed.

Shell bid at 80 cents more than to Dated Brent for a Jan. 8 to Jan. 10 consignment, according to the survey. Statoil sought to buy at the same price for a Jan. 8 to Jan. 11 cargo.

Reported crude trading typically occurs during the Platts window, which ends at 4:30 p.m. London time. Before the session, Forties loading in 10 to 25 days rose 2 cents to 76 cents more than Dated Brent, data compiled by Bloomberg show.

Brent for February settlement traded at $109.79 a barrel on the ICE Futures Europe exchange in London at the close of the window, compared with $108.75 in the previous session. The March contract was at $108.92, a discount of 87 cents to February.

Mediterranean/Urals

There were no bids or offers for Urals for a second day, according to the Platts survey.

Surgutneftegas is offering one shipment each for Jan. 8 to Jan. 9 and Jan. 10 to Jan. 11 from Primorsk, the tender showed.

The company is also seeking to sell one lot for Jan. 5 to Jan. 6 from Ust-Luga, according to the document. The tender closes tomorrow. Each consignment is of 100,000 metric tons.

The Urals differential to Dated Brent in the Mediterranean widened 2 cents to minus 30 cents, according to data compiled by Bloomberg. In northwest Europe, the discount to Dated Brent increased 5 cents to $1.05, the data showed.

West Africa

Angola, Africa’s second-largest oil producer, will cut exports of Plutonio crude in February while shipments of Palanca grade will be stable at one lot, two loading programs obtained by Bloomberg News showed.

The country is scheduled to ship six consignments of 1 million barrels each of Plutonio in February, one less than next month, according to a loading plan. The Palanca shipment is for 985,000 barrels, a second plan showed.

Qua Iboe blend dropped 1 cent to at $2.66 a barrel more than Dated Brent, according to data compiled by Bloomberg. That’s close to an eight-month high at $2.72 on Dec. 10.

To contact the reporter on this story: Rupert Rowling in London at rrowling@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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