ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

SHEL Shell Plc

2,851.00
9.50 (0.33%)
19 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Shell Plc LSE:SHEL London Ordinary Share GB00BP6MXD84 ORD EUR0.07
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  9.50 0.33% 2,851.00 2,851.50 2,852.00 2,855.50 2,755.00 2,837.00 8,362,636 16:35:08
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs 316.62B 19.36B 2.9802 9.57 185.23B

North Sea Crude Loadings to Drop During May Maintenance

04/04/2014 5:38pm

Dow Jones News


Shell (LSE:SHEL)
Historical Stock Chart


From Apr 2019 to Apr 2024

Click Here for more Shell Charts.

By Cassie Werber

LONDON--The amount of crude oil due to be pumped from fields in the North Sea is set to fall nearly 15% in May compared to the previous month, as maintenance season takes large swathes of production out of the market.

The Oseberg field will load only two cargoes this month, according to provisional loading programs seen by The Wall Street Journal, compared with six last month.

"I think it's just normal field maintenance [and] I would say it was planned. Whether or not the market knew about it until very recently is another matter," said Steve Sawyer, an oil consultant at FACTS Global Energy.

The total number of barrels to be loaded in May will be 24 million, down 14.9% from 28.2 million the month before.

A North Sea oil trader said that the "large maintenance" was likely priced in, and that the Oseberg field is undergoing maintenance between the April 25 and May 15.

The loadings of the other three grades that make up the BFOE basket of crudes used to create the Brent benchmark were similar to the previous month.

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:

                  April 2014                   May 2014 
 
               (barrels)    Volume (B/D) (barrels)    Volume (B/D) 
Brent          3,600,000    120,000      3,600,000    116,129 
Forties       11,400,000    380,000     10,200,000    329,032 
Oseberg        3,000,000    100,000      1,200,000     38,710 
Ekofisk       10,200,000    340,000      9,000,000    290,323 
Total BFOE    28,200,000    940,000     24,000,000    774,194 
 

Write to Cassie Werber at cassie.werber@wsj.com

1 Year Shell Chart

1 Year Shell Chart

1 Month Shell Chart

1 Month Shell Chart

Your Recent History

Delayed Upgrade Clock