W. Africa Crude-Angolan nearly sold out, Nigerian offered at high levels

LONDON, Feb 1 (Reuters) – Nigerian barrels were still being offered at high levels on Friday, while barely any Angolan remained for March loading.

* Only a handful of March loading Angolan cargoes were left after Chinese refiners mopped up the market ahead of the Lunar New Year holiday.

* ExxonMobil was said to be offering several cargoes of Qua Iboe at dated Brent plus $2.30 a barrel.

* Forcados was being offered at dated Brent plus $2.50-$2.75 a barrel. The grade has been buoyed recently as it is distillate-rich, producing a higher yield of diesel that has had a better margin than gasoline lately.

* India’s IOC issued a new buy tender for west African crude loading 1-10 April. The tender closes and remains valid until Feb. 7.

RELATED NEWS

* Non-U.S. entities buying oil or petroleum products from Venezuela’s state-owned PDVSA in deals that involve the U.S. financial system, brokers or people, must be wound down by April 28, the U.S. Treasury Department said in a notice posted early on Friday.

Reporting by Julia Payne; Editing by Susan Fenton

Comments

Leave a Reply

Skip to toolbar