North Sea Crude-Forties diffs rise on bid

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, Feb 17 (Reuters) - North Sea Forties crude oil differentials rose on Friday to reflect a bid from Gunvor, while no offers or deals were seen.


* Kazakhstan will supply 100,000 tonnes of oil via Russia's Druzhba pipeline to Germany in March for the PCK Schwedt refinery after it agreed commercial and legal terms with all parties involved, two sources familiar with the talks said.
* China's commerce ministry has met independent oil refiners to discuss their deals with Russia, five sources with knowledge of the matter said, imports which have saved Chinese buyers billions of dollars.
* Nigeria's oil output is increasing and as of Thursday stood at 1.6 million barrels per day (bpd), up from less than 1 million bpd in July last year, the group chief executive of Nigerian oil company NNPC said on Friday.
* BP plans to keep its Azerbaijan platforms running without maintenance stoppages in 2023, the oil major's regional president, Harry Jones, said on Friday. MARCH LOADINGS
* Output in March of nine crudes tracked by Reuters will average 1.87 million barrels per day, up 1.6% from February, according to Reuters calculations based on loading programmes provided by trade sources.


PLATTS WINDOW
* Indications are on a free-on-board (FOB) basis unless marked as cost, insurance and freight (CIF) or delivered at place (DAP).
* There were no deals according to a trade source.


* Forties: Gunvor bid for a cargo loading Mar. 15-20 at dated Brent minus 15 cents.


* Ekofisk: TotalEnergies offered a cargo loading Mar. 17-19 at dated Brent plus $3.95. (Reporting by Rowena Edwards; Editing by Kirsten Donovan)


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