Vitol, Eni Sell CPC Blend; HPCL Buys Qua Iboe Crude From Vitol
No bids or offers were made for North Sea Forties and Russian Urals crudes. Vitol Group and Eni SpA (ENI) sold CPC Blend at a smaller premium than yesterday’s bid.
Hindustan Petroleum Corp. bought 2 million barrels of Nigerian Qua Iboe for September loading from Vitol Group at a premium of about $2.50 to $3 a barrel to Dated Brent, said two traders who participate in the market.
Total yesterday was unable to buy two cargoes of Forties at 70 cents a barrel more than Dated Brent, according to a Bloomberg survey of traders and brokers monitoring the Platts pricing window. One was for Aug. 6 to Aug. 8 and the other for July 29 to July 31.
There were no bids or offers for Brent, Oseberg or Ekofisk. Reported crude trading typically occurs during the Platts window, which ends at 4:30 p.m. London time.
Brent for September settlement traded at $108.52 a barrel on the ICE Futures Europe exchange at the close of the window, compared with $108.10 in the previous session. The October contract was at $107.76 at the same time today, a discount of 76 cents to September.
Forties cargo F0803 was deferred by one day to load on Aug. 13 to Aug. 15, said two people with knowledge of the loading program. Shipment F0801 will now be exported on Aug. 11 to Aug. 23, four days later than planned.
Vitol sold 85,000 metric tons of CPC Blend for July 27 to July 31 loading to Total SA at a premium of 65 cents a barrel more than Dated Brent, the survey showed. This is 5 cents less than a bid yesterday.
Eni sold the grade for Aug. 2 to Aug. 6 loading to Royal Dutch Shell Plc (RDSA) at the same premium, according to the survey.
Urals in the Mediterranean rose to a premium of 77 cents a barrel to Dated Brent on July 10, the highest since at least July 1991, when Bloomberg started tracking the data.
PKN Orlen bought 100,000 tons of Urals for Aug. 1 to Aug. 5 delivery to Butinge oil terminal in Lithuania from BP Plc (BP/), according to two people who asked not to be identified because the information is confidential.
OAO Surgutneftegas issued a tender to sell 100,000 tons of Urals for loading on Aug. 4 to Aug. 5 from Ust-Luga on the Baltic Sea, according to three traders with knowledge of the matter. The tender closes tomorrow at 2 p.m. Moscow time.
Libya’s Zueitina port resumed oil loadings yesterday after port workers ended strike two days ago, port spokesman Bashir Al Farrabi said by phone.
Bharat Petroleum Corp. booked suezmax Karvounis to ship Nigerian Qua Iboe crude on Aug. 6 to West Coast of India at a cost of $2.30 million to $2.35 million, according to two tankers reports including Athens-based Optima Shipbrokers. One Suezmax tanker typically holds 1 million barrels of crude oil.The company last week bought 1 million barrels of Qua Iboe for Aug. 1 to Aug. 10 loading from Total SA (FP) via a tender.
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