NSea Crude-Forties slips as December programmes emerge

* Forties sold at dated minus 30 cents, down sharply

* December loading programmes show small rise from November

LONDON, Nov 9 (Reuters) - North Sea Forties crude oil values
slipped on Monday as Nexen sold a cargo it had been offering for
several days and two other sellers entered the market at sharply
lower levels.

Traders said differentials eased on the back of better North
Sea crude oil supply for December (see below), a sharp rise in
outright crude futures prices and a further weakening in
refining margins, especially for complex refining units in the
U.S. Gulf.

NORTH SEA LOADING PROGRAMMES

* Details of the December loading programme for North Sea
crude cargoes began to emerge on Monday with the schedule for
Brent, Forties and Oseberg overall showing a small increase in
supply at around 969,500 barrels per day (bpd) up from an
originally scheduled 963,000 bpd for November. Details of the
Ekofisk loading programme were expected on Tuesday.

* Forties FOT-E will load 19.6 million barrels in December
in 32 cargoes of 600,000 barrels and one cargo of 400,000
barrels, giving a daily stream of about 632,000 bpd, versus
660,000 bpd initially planned for November. Two Forties cargoes
were later removed, taking loadings in November down to 620,000
bpd. [ID:nL9443140]

* Oseberg OSE-E will load about 194,000 bpd in December,
compared with 183,000 in November. The December programme lists
10 cargoes of 600,000 barrels. [ID:nWLA7652]

* Brent is scheduled to load 143,500 (bpd) in December, up
from 120,000 bpd. [ID:nWLA7611]

FORTIES FOT-E

* Within the afternoon trading window, Nexen sold BP a cargo
for loading Nov. 28-30 at dated BFOE minus 30 cents. Nexen had
shown the same cargo on Friday at minus 10 cents.
* Outstanding offers: Total with a cargo lifting Nov. 19-21
at dated minus 30 cents and Shell offering a Nov. 20-22 cargo at
dated minus 35 cents.

* No bids seen

REFINING MARGINS <REF/MARGIN1>

* Complex refining margins for North Sea Brent in Rotterdam
were slightly tighter than on Friday at around $2.50 per barrel,
down from around $3 at the end of last week and an average of
the past five days of around $3.30, according to Reuters models.

SWAPS

* Contracts for Differences (CFDs) were narrower across the
curve and continuing to show backwardation for nearby physical
barrels (previous day in brackets) as follows:

16-20/11 Jan -110 (-118)

23-27/11 Jan -98 (-102)

30-04/12 Jan -84 ( -87)

7-11/12 Jan -70 ( -72)

14-18/12 Jan -56 ( -57)

21-24/12 Jan -42 ( - )

ICE BRENT MARKER

* The ICE set its afternoon one-minute marker for December
Brent at $77.95 per barrel, up from $75.52 on Friday.

(Reporting by Christopher Johnson; editing by Sue Thomas)