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Grangemouth Supplies Power to Kinneil: Angola Crude Exports Gain

Oct. 16 (Bloomberg) -- The North Sea Kinneil oil and gas processing plant, which handles crude from the BP Plc-operated Forties Pipeline System, is still getting steam and power from Grangemouth even after the refinery at the site was shut, according to Ineos Group Holdings SA.

Angola, Africa’s second-largest oil producer, will export 56 crude cargoes in December, three more than in November, a revised loading program obtained by Bloomberg News showed. Russian Urals blend traded in northwest Europe at a bigger discount than yesterday’s offered level.

North Sea

There were no bids, offers or trades for Forties, according to a Bloomberg survey of traders and brokers monitoring the Platts pricing window. Lot F1101 for Nov. 1 to Nov. 3 traded yesterday at 25 cents a barrel more than Dated Brent.

Statoil ASA briefly offered Oseberg cargoes for Oct. 31 to Nov. 2 loading at 75 cents a barrel more than Dated Brent before withdrawing it, according to the survey.

Brent for November settlement traded at $110.87 a barrel on the ICE Futures Europe exchange at the close of the window, compared with $110.48 from the previous session. The December contract was at $110.52, a discount of 35 cents to November.

A power station at Grangemouth remains in operation and is supplying steam and electricity to the Kinneil oil and gas processing plant, Richard Longden, a spokesman for Ineos, said by phone at 4:45 p.m. London time.

The Forties Pipeline System is scheduled to load 387,000 barrels a day of crude in October, according to a shipping program obtained by Bloomberg News.

Ineos said it will keep the Grangemouth refinery and petrochemical site closed even after the Unite union called off a strike planned for this weekend, potentially cutting 45 percent of U.K.’s oil output.

Urals/Mediterranean

Glencore Xstrata Plc sold 100,000 metric tons of Urals to Statoil for Oct. 28 to Nov. 1 loading at a discount of $1.95 a barrel to Dated Brent delivered to Rotterdam, according to a Bloomberg survey of traders and brokers monitoring the Platts pricing window.

The grade was offered at discounts of $1.65 a barrel by Eni SpA and BP.

Russia plans to ship 1.01 million metric tons of Urals from the Baltic Sea port of Primorsk on Oct. 31 to Nov. 6, according to a preliminary loading program obtained by Bloomberg News. Four 100,000 ton lots will be loaded from Ust-Luga from Oct. 31 to Nov. 4, the plan showed.

Exports from Novorossiysk are planned at two 140,000-ton cargoes and four 80,000-ton shipments of Urals from Oct. 31 to Nov. 6, according to the program.

West Africa

BP offered an Angolan Pazflor cargo for Nov. 4 to Nov. 5 at a discount of $2.40 a barrel to Dated Brent, the Platts survey showed.

Angola crude shipments will total 53.54 million barrels, or 1.73 million barrels a day, the plan showed. That compares with 50.88 million, or 1.7 million a day, in November. Most consignments are of 950,000 to 1 million barrels.

An extra Plutonio cargo was added to the December schedule, according to the revised plan.

PT Pertamina, Indonesia’s state-owned oil company, bought a cargo of Nigerian Qua Iboe crude for December delivery to its Cilacap refinery, said a company official who asked not to be identified because the information is confidential.

To contact the reporters on this story: Sherry Su in London at lsu23@bloomberg.net; Raj Rajendran in London at rrajendran4@bloomberg.net

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

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