North Sea BFOE Crude-Oil Loading Programs to Rise 10% in June
By Cassie Werber
LONDON--The amount of crude oil due to be pumped from North Sea fields will rise by 10% in June from the previous month, as the Oseberg field emerges from maintenance.
Oseberg was due to account for only two 600,000-barrel cargoes in May, according to loading programs, because of field maintenance. In June, however, seven cargoes are due to load.
All the other fields that make up the BFOE basket of crudes will have similar loadings to the previous month, according to provisional loading programs seen by The Wall Street Journal.
There will be six Brent cargoes in June, the same as in May, and 17 Forties cargoes, the same as the previous month. There are due to be 14 cargoes loaded at the Ekofisk field, down from 15.
June is also a shorter month than May, elevating the barrels-per-day difference between the two months.
Loading programs are released and circulated among oil traders and brokers, but don't give a perfect indication of oil volume because they can be subject to change.
Brent crude is of international importance because it remains one of the most liquid markets and influences oil prices across the globe.
North Sea loading programs:
May 2014 June 2014 (barrels) Volume (B/D) (barrels) Volume (B/D) Brent 3,600,000 116,129 3,600,000 120,000 Forties 10,200,000 329,032 10,200,000 340,000 Oseberg 1,200,000 38,710 4,200,000 140,000 Ekofisk 9,000,000 290,323 8,400,000 280,000 Total BFOE 24,000,000 774,194 26,400,000 880,000
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(END) Dow Jones Newswires 05-08-141020ET Copyright (c) 2014 Dow Jones & Company, Inc.