W. Africa Crude-Angolan cargoes trade, some offers lowered

LONDON, Jan 4 (Reuters) – An overhang of Angolan cargoes for February loading was steadily finding buyers, traders said on Friday, and some sellers were heard to be lowering offers.

ANGOLA

* Chinese demand has been weaker for the latest month’s cargoes and inventories were high, traders said.

* Even so, cargoes were finding buyers and the number of available cargoes had come down to about 14 on Friday, from 16 estimated on Wednesday. Eni sold a cargo of Kissanje this week, a trader said.

* State oil firm Sonangol was still offering two cargoes of Dalia at dated Brent and was heard to have lowered the offer to dated Brent minus 50 cents a barrel, down 20 cents. The cargoes load on Feb. 17-18 and Feb. 23-24.

NIGERIA

* The market had ample supplies, traders said, with at least 20 cargoes available.

* Bonny Light and Qua Iboe were heard to be offered at dated Brent plus $1.80, a level seen as too high by one potential buyer.

TENDERS

* South Africa’s Sasol issued a buy tender for a cargo of west African crude loading mid- to end-February, Reuters reported on Thursday. (Reporting By Alex Lawler; Editing by Susan Fenton) ))

Leave a Reply

Your email address will not be published. Required fields are marked *

Skip to toolbar