Trafigura Sells Forties; North Sea Exports at Three-Month High

Trafigura Beheer BV sold North Sea Forties crude at a lower price than the previous trade. Royal Dutch Shell Plc sold Russian Urals blend at a smaller discount than the last transaction in northwest Europe.

Daily exports of the 12 main grades of North Sea crude for shipment in July will increase to the highest in three months, according to loading programs obtained by Bloomberg News.

North Sea

Trafigura sold Forties cargo F0619 for June 26 to June 28 loading to Glencore Xstrata Plc at 50 cents a barrel less than Dated Brent, a Bloomberg survey of traders and brokers monitoring the Platts pricing window showed. That compares with the previous trade at parity to the benchmark on June 6.

Total SA failed to sell the grade for June 23 to June 25 at a discount of 45 cents to Dated Brent, compared with minus 35 cents yesterday, according to the survey.

BP Plc didn’t manage to sell Forties for June 25 to June 27 at 40 cents less than Dated Brent, compared with its offer at a discount of 10 cents yesterday, the survey showed.

BP was also unable to sell Ekofisk for July 1 to July 3 at $1.00 a barrel more than Dated Brent, it raised its offer by 5 cents from yesterday, the survey showed.

Reported crude trading typically occurs during the Platts window, which ends at 4:30 p.m. London time. Forties loading in 10 to 25 days was at 28 cents less than Dated Brent, compared with a discount of 4 cents yesterday, according to data compiled by Bloomberg.

Brent for July settlement traded at $102.28 a barrel on the ICE Futures Europe exchange at the close of the window, compared with $104.08 in the previous session. The August contract was at $102.33 at the same time today, a premium of 5 cents to July.

Exports of Brent, Forties, Oseberg, Ekofisk, Statfjord, Gullfaks, Alvheim, Aasgard, DUC, Flotta, Grane and Troll blends will total 60 million barrels, or about 1.94 million barrels a day, the most since April. That compares with a revised 1.74 million in June, the lowest in nine months.

Loadings of Flotta for July will be unchanged at one cargo of 600,000 barrels, according to a shipping schedule.

Maersk Oil will conduct maintenance at wells and facilities on Dan, Gorm, Tyra and Halfdan in the North Sea in June, according to the company.

“At the Tyra field we have a partial shutdown for optimization of the topside facilities,” Karsten Jensen, asset executive of the company, a unit of Copenhagen-based A.P. Moeller Maersk A/S, said yesterday in an e-mailed response to questions. “None of the platforms are planned to be entirely shut in for maintenance, and we do not expect to see a non-planned impact on the overall DUC production.”

The share of crude produced from Buzzard in Forties dropped to 36 percent in the week ending June 9, from 40 percent in the previous week, BP said on its website.


Vitol Group sold 80,000 metric tons of Urals for June 30 to July 4 to Eni SpA at 30 cents a barrel less than Dated Brent on a delivered basis to Augusta in Italy, the survey showed. That compares with a June 6 trade at minus 35 cents.

Shell sold 100,000 tons of the blend for June 21 to June 25 loading to Gunvor Group Ltd. at 30 cents a barrel less than Dated Brent, according to the survey. This compares with a June 7 deal at a discount of 50 cents.

Urals in the Mediterranean rose by 11 cents to a discount of 66 cents a barrel to Dated Brent, data compiled by Bloomberg showed. In northwest Europe, the discount was 50 cents to the benchmark, versus minus 54 cents in the previous session.

Saudi Arabian Oil Co. will supply full volumes in July to customers in Europe, unchanged from this month, according to three refinery officials with knowledge of the matter.

Exports of Azeri Light from Georgia’s Black Sea port of Supsa for July will be five lots of 600,000 barrels, one more than this month, according to a loading schedule obtained by Bloomberg News.

West Africa

Benchmark Nigerian Qua Iboe blend rose by 2 cents to a premium of $2.22 a barrel to Dated Brent, data compiled by Bloomberg showed.

Only two or three Angolan crude cargoes for July loading remain unsold, including Saturno and Nemba grades, said three traders who participate in market. This is normal for this time of a month, they said.

Mangalore Refinery & Petrochemicals Ltd. bought one cargo of 600,000 barrels of Nigerian Okoro crude for loading in July from BP via a tender, said two people with knowledge of the matter.

Before it's here, it's on the Bloomberg Terminal.