TotalEnergies has bid for Nigerian crude Forcados on Argus Open Markets (AOM), the first activity for west African crude on the public price-discovery platform.
The French firm began its bid for a 1mn bl cargo of medium sweet Forcados loading over 23-27 January at price reporting agency Platts' Dated Brent +1.80 on a fob basis. The firm bid up to Dated +1.90 for Forcados loading in end January.
The AOM platform is already used for a number of commodity markets covered by Argus and was enabled for west African crude grades in early November.
Between 11:00 and 17:30 London time on UK working days, market participants registered on the platform are able to post and respond to bids and offers on the platform for any of the 24 west African grades assessed in the Argus Crude report.
