North Sea Crude-Forties and Ekofisk bid higher

Petrofac

27/10/2025 17:52

LONDON, Oct 27 (Reuters) - North Sea Forties and Ekofisk were bid higher in the Platts window on Monday, while UK oil services firm Petrofac filed for administration.

PETROFAC

* British oilfield services provider Petrofac PFC.L said on Monday it plans to appoint administrators, potentially putting jobs at risk, after losing a major Dutch contract.

* "Our long-established North Sea business continues to operate as normal, and management are working to minimise disruption for clients and employees," a Petrofac spokesperson told Reuters in an emailed statement.

PLATTS WINDOW

* Indications are on a free-on-board (FOB) basis unless marked as cost, insurance and freight (CIF) or delivered at place (DAP).

* No deals on Monday, a trader said.

* Forties: Vitol bid for November 15-17 dates at dated Brent plus 10 cents.

* Forties: Monday's bid was higher than where the grade traded last week, when Exxon Mobil bought from Eni for November 15-17 at dated minus 15 cents.

* Ekofisk: Phillips 66 bid for a cargo loading November 7-9 at dated Brent plus 90 cents.

* Ekofisk was last offered in the window at dated plus 90 cents, when BP offered an early-November cargo on October 16.

* WTI Midland: ExxonMobil bid for two cargoes, loading November 10-14 and November 14-18, at dated Brent plus $1.09 CIF Rotterdam and dated Brent plus 93 cents CIF Rotterdam, respectively.

* The higher of the two bids, at dated plus $1.09 CIF, equated to around dated Brent minus 12 cents FOB, Reuters calculations showed.

* The bids were lower than where WTI Midland traded last week, when Glencore bought two mid-November cargoes from Unipec at dated plus $1.20 CIF Rotterdam on Tuesday.

 (Reporting by Robert Harvey in London; Editing by Vijay Kishore)

 ((Robert.Harvey@thomsonreuters.com;))

NORTH SEA CRUDE OIL DIFFERENTIALS AND OUTRIGHT PRICES:
                    0#BFO-DIF     0#C-E
Dated BFO       BFO-
Brent           BFO-BRT       BFO-E
Forties         BFO-FOT       FOT-E
Oseberg         BFO-OSE       OSE-E
Ekofisk         BFO-EKO       EKO-E
 Monthly North Sea crude loading programmes     O/LOAD
 OPEC OPEC                NSEA  North Sea
 CRU  crude oil           PROD  oil products
 DRV  derivatives         PRO/E European products
  OILOIL  NYMOIL, IPEOIL, OILSPD, OILARB
CRDWLDPRODEUR, PRODUS, APROD
ENERGY energy speed guide   CRUDE/1 crude speed guide