Bloomberg News

Shell Offers Two Forties Oil Cargoes; BP Seeks Russian Urals

January 02, 2012

Dec. 30 (Bloomberg) -- Royal Dutch Shell Plc sought to sell two cargoes of North Sea Forties crude, while Total SA bid for another. BP Plc tried to buy a shipment of Russian Urals oil, while Trafigura Beheer BV attempted to sell one.

North Sea

Shell, which sold a consignment of Forties yesterday, offered one Forties shipment scheduled to load on Jan. 11 to Jan. 13 at a discount of 30 cents to Dated Brent and a second loading on Jan. 12 to Jan. 14 at a 15-cent discount, according to a Bloomberg News survey of traders monitoring the Platts trading window.

Total sought a cargo for loading on Jan. 21 to Jan. 25, at a premium of 25 cents, and Hess Energy Trading Co. bid for a Jan. 18 to Jan. 22 Forties shipment at 10 cents more than Dated Brent.

Reported North Sea trading typically occurs during the Platts window, which ends at 12:30 p.m. London time today. Before the session, Forties loading in 10 to 21 days was 3 cents a barrel less than Dated Brent, compared with a premium of 23 cents yesterday, according to data compiled by Bloomberg.

Brent for February settlement traded at $107.01 barrel on the London-based ICE Futures Europe exchange at the close of the window, down from $106.50 yesterday. The March contract was at $106.47, a discount of 54 cents in relation to February.

Mediterranean/Urals

BP bid for 100,000 metric tons of Russian Urals, for delivery in Rotterdam on Jan. 18 to Jan. 22 at a discount of $2.20 a barrel to Dated Brent. Trafigura offered the same quantity of the grade, for delivery on Jan. 12 to Jan. 16 in Rotterdam, at a discount of $2.05.

West Africa

Qua Iboe crude was at a premium of $2.63 a barrel to Dated Brent, unchanged from yesterday, data compiled by Bloomberg showed.

--Editors: Rachel Graham, Rob Verdonck

To contact the reporter on this story: Grant Smith in London at gsmith52@bloomberg.net

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


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