* Forties bid up to dated minus 30 cents * Better margins may help refiners avoid run cuts * Competition from West African crude falls LONDON, April 18 (Reuters) - North Sea Forties crude pricedifferentials firmed slightly on Thursday, although traders werestill divided as to whether the market has turned a corner dueto ample supply and anaemic refinery demand. Several loading advancements were expected due to continuedstrong production from the key Buzzard oilfield, and anadditional cargo was still on offer for May. The feeling grewthat forced advancements were on the cards. Offsetting this, fewer competing cargoes of West Africancrude could help underpin North Sea differentials after RoyalDutch Shell declared force majeure on its NigerianBonny Light crude oil exports. "Bonny will give some support but I think there are still alot of questions about possible injections into the programme aswell as demand," one trader said. Refining margins in northwest Europe improved this weekafter Brent crude futures fell below $100 a barrel to anine-month low. The overall margin for refiners cracking Brentis now at $7.09 a barrel, up from $5.46 a barrel in March,according to Reuters' data. Gasoline margins are also back above $12 a barrel and evenfuel oil margins are at around minus $7.20 a barrel, a high notseen since July 2012. Before the sell-off, market participants expected refinersto cut runs due to product stock builds as consumer demandremains weak. Some later believed refiners had been thrown alifeline. "I doubt there will be any cuts," a trader said. FORTIES * Activity picked up a little in the North Sea market withTotal and Trafigura bidding, although no cargoes traded. * Total bid for cargoes loading around May 11-15 at datedBrent minus 30 cents. This was up from Tuesday's Forties deal,which was done at around dated Brent minus 58 cents. * Total also sought cargoes loading May 1-5 at June cashBFOE minus $1.10 whilst Trafigura was targeting May 10-13cargoes at dated Brent minus 55 cents. * BP offered a Forties cargo loading May 3-5 at June cashBFOE minus $1. SWAPS * The swaps curve was not available as of 1615 GMT. Pleasecheck page for later updates. DATABASE
Shell announces $4bn share buyback as Q3 profits beat expectations
(Sharecast News) - Oil giant Shell announced a $4bn share buyback on Thursday as it posted better-than-expected third-quarter profits.
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