North Sea BFOE Crude-Oil Loading Programs to Rise 4.5% in July

Date : 06/09/2014 @ 6:56AM
Source : Dow Jones News
Stock : Exxon Mobil Corp. (XOM)
Quote : 88.0  1.03 (1.18%) @ 5:55PM

North Sea BFOE Crude-Oil Loading Programs to Rise 4.5% in July

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By Cassie Werber

LONDON--The amount of crude oil due to be pumped from North Sea fields will rise by 4.5% in July from the previous month.

All the fields that make up the BFOE basket of crudes will have broadly similar loadings to the previous month, according to provisional loading programs seen by The Wall Street Journal.

There will be six Brent cargoes in July, the same as in June, and 19 Forties cargoes, up from 17 the previous month. There are due to be 15 cargoes loaded at the Ekofisk field, up from 14, and six at Oseberg, down from seven in June.

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:

                 June 2014                   July 2014 
               (barrels)    Volume (B/D)    (barrels)  Volume (B/D) 
Brent          3,600,000    120,000         3,600,000  116,129 
Forties       10,200,000    340,000        11,400,000  367,742 
Oseberg        4,200,000    140,000         3,600,000  116,129 
Ekofisk        8,400,000    280,000         9,000,000  290,323 
Total BFOE    26,400,000    880,000        27,600,000  890,323 

Write to Cassie Werber at, Twitter: @cassiewerber

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