17 December 2024: 09:30 GMT
It was another big day in the convergence stakes, with four more. You’d be forgiven for thinking Totsa had bagged another 2 mill bbls of crude, but you’d be mistaken. Glencore has been quietly plugging away in the Frenchman’s shadow and today was rewarded with an Upper Zakum cargo from Exxon. Exxon did declare another Upper Zakum and guess who it went to! Totsa, of course. So did other convergences for UZ from both PetroChina and BP – one from each. So, Totsa’s reached 13 convergences in Dubai so far this month. And now Dubai partials have overtaken Brent, gaining a 3c/bbl premium!
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