North Sea Crude-June Supply May Be Tight

Posted by Eric Haun
Tuesday, May 06, 2014

North Sea crude premiums held strong on Tuesday, supported by solid demand from Shell, and traders said the market for June-loading cargos could remain strong due to tighter supply.

Loading programmes for North Sea crude in June have started to be issued this week and traders say summer maintenance work at oilfields and other infrastructure could tighten supplies.

"That could keep differentials supported," said one.

Output at the Buzzard oilfield appears to have recovered after a cutback last month, which trimmed supply of Forties and led to a spate of loading delays for cargoes in April and May.

The field was pumping at normal rate of around 200,000 barrels per day on Tuesday, an industry source said.

Forties
Shell bid for a Forties cargo loading on May 23-26 at dated Brent plus 90 cents, unchanged from a similar bid on Friday, and the highest differential since February according to Reuters data.

Eni offered a Forties loading on May 29-31 at dated plus $1.20, up 5 cents from its offer on Friday.

June Programs
A number of programs were circulating in the market on Tuesday, including:

DUC: Two cargoes will load in June. A trader thought the relatively low number of cargoes was due to maintenance.

Statfjord, Gullfaks: Four cargos of each grade will load in June.

Troll: Twelve cargos will load in June.

(Reporting by Alex Lawler; Editing by William Hardy)

Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Solarworld Wants Duties on Chinese Solar Goods in U.S. Extended

German solar manufacturer SolarWorld will apply to the United States for an extension of duties on Chinese panel imports that are due to end this year, weekly Euro am Sonntag said.

Sea Urchin Haven Disturbed by Oil Spill

Stephanie Mutz makes a living plucking sea urchins from the Santa Barbara coast and selling the prickly treasure to upscale restaurants in Southern California.

Viking Orders 2 Liebherr Cranes

An LR 1300 with super lift equipment and an LR 1160 crawler crane will strengthen the fleet of Viking Cranes. The Tallinn-based company with branch offices

Energy

Solarworld Wants Duties on Chinese Solar Goods in U.S. Extended

German solar manufacturer SolarWorld will apply to the United States for an extension of duties on Chinese panel imports that are due to end this year, weekly Euro am Sonntag said.

Red Tape, Industrial Relations Could Stifle LNG Potential

Australia could develop the world’s most technologically advanced LNG industry, according to a report by Accenture. But if industry is to reach its potential

Shell CEO Backs Fossil Fuels, Climate Change Warnings

The world's fossil fuel reserves cannot be burned unless some way is found to capture their carbon emissions, Royal Dutch Shell Plc Chief Executive Officer Ben van Beurden said on Friday.

News

Solarworld Wants Duties on Chinese Solar Goods in U.S. Extended

German solar manufacturer SolarWorld will apply to the United States for an extension of duties on Chinese panel imports that are due to end this year, weekly Euro am Sonntag said.

Sea Urchin Haven Disturbed by Oil Spill

Stephanie Mutz makes a living plucking sea urchins from the Santa Barbara coast and selling the prickly treasure to upscale restaurants in Southern California.

5 Tunisian Migrants Die in Shipwreck

At least five Tunisian migrants died on Saturday when their boat sailing to Italy capsized off the Tunisian coast, officials said. "A migrant boat carrying

Offshore Energy

Mobil Says Oil Discovery off Guyana is 'Significant'

Unlike almost all its neighbors, Guyana isn’t an oil producer yet. But the energy giant Exxon Mobil recently announced it had discovered “significant” oil off the coast.

US Oil Platform on Fire in Gulf Of Mexico

An oil platform caught fire and was evacuated in the U.S. Gulf of Mexico offshore Louisiana in the early hours of Friday, though no injuries were reported, the U.

Protea to Launch Heavy-Lift Cranes at Nor-Shipping

Protea, a global manufacturer of offshore handling equipment, will launch two types of heavy lift cranes at Nor-Shipping 2015 in Oslo, June 2-5. Tomasz Paszkiewicz,

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2218 sec (5 req/sec)