Forties crude output seen at 10-month high in November

Production of North Sea crude grade Forties is forecast to reach a 10-month high of almost 224,000 b/d in November, up from 216,000 b/d in October, 186,000 b/d in September and 161,000 b/d in August, according to latest figures from Forties Pipeline System (FPS) operator Ineos.

This is Ineos' first forecast for November. The firm has revised down its estimates for August-October by 2-5pc compared with its previous forecast.

November's increase will be driven by a rise in output from the grade's smaller contributing fields, which is forecast to hit a one-year high of 181,000 b/d. Buzzard — the largest field on the FPS — will account for around 19pc of Forties output in November, compared with 20-25pc in August-October.

Buzzard is scheduled to start a two-week maintenance shutdown in August.

Buzzard accounted for 25pc of Forties output in the week to 28 July, up from 22pc the previous week. Buzzard's contribution affects Forties quality because the field's crude is heavier and sourer than the other component fields. A 25pc Buzzard contribution results in a Forties blend with a gravity of 40.3°API and a sulphur content of 0.62pc.

By Lina Bulyk