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North Sea Crude-Forties diff falls in line with weaker sours market

Thu, 20th Aug 2020 17:58

LONDON, Aug 20 (Reuters) - The differential for Forties fell
on Thursday, in line with drops in value for other sour grades
that can be used as alternatives like Russian and Iraqi grades.

* Oil and gas investment in Norway, Western Europe's top
producer, will rise more this year and decline less in 2021 than
predicted a few months ago, an industry survey by the statistics
office (SSB) showed on Thursday.

* Premier Oil, with operations in the North Sea, has
agreed terms for a long-term refinancing of its debt facilities,
it said on Thursday, including $300 million of new equity and an
extension to its credit maturities, after swinging into a
first-half loss due to weak crude prices.

PLATTS WINDOW

(All activity on a fob basis unless otherwise indicated)

* Oseberg: Litasco bid for a cargo at dated Brent plus 95
cents loading Sept. 3-5.

* Oseberg: Equinor offered a cargo at dated Brent plus 55
cents loading Sept. 9-11.

* Forties: Litasco bid at dated Brent plus 60 cents loading
Sept. 13-17.

* Forties: BP offered a cargo at dated Brent plus $1.10 cif
Rotterdam loading Sept. 14-21.

* Forties: Vitol bid for a cargo at dated Brent plus 5 cents
loading Sept. 16-18.

* Forties: BP offered at dated Brent plus 40 cents loading
Sept. 16-18.

* Forties: Mercuria bid at dated Brent plus 45 cents loading
Sept. 20-22.
(Reporting by Julia Payne; Editing by Kirsten Donovan)

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