LONDON (Reuters) - The North Sea Forties crude stream is pumping less oil than expected, leading to delays in the loading of some cargoes of the crude, two trade sources said on Friday.
“Production is below plan,” one of the sources said. “There are deferrals being offered.”
Forties was originally scheduled to load 271,000 barrels per day in August, a lower-than-usual rate due to planned seasonal maintenance at offshore oilfields connected to the pipeline.
The two trade sources said that the Total-operated Elgin-Franklin field in the North Sea was returning to operation from maintenance later than expected, reducing Forties output from the planned levels.
Total could not immediately be reached for comment.
Forties is the largest of the four crude oil streams that underpin the Brent benchmark.
Reporting by Alex Lawler, additional reporting by Libby George, Editing by Susan Fenton