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Sverdrup Loadings to Nudge Record Pace September

OIL

North Sea Johan Sverdrup crude loadings set at record 778k b/d in September, according to a loading program seen by Bloomberg.

  • Pace up narrowly from 774k b/d in August.
  • Norway's Equinor is looking at a Johan Sverdrup Phase 3 project to keep production at the giant field at current high levels.
  • The crude, which is relatively heavy and sulfurous, has met with exceptional demand due to sanctions on Russia and its Urals crude. Platts assessed Sverdrup crude at a $2.59/b premium to North Sea Dated Brent on July 25.

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