W. Africa Crude-Grades steady, tenders in focus

LONDON, March 25 (Reuters) – West African crude differentials were finding support from solid demand, traders said on Monday, while newly issued buying tenders were in focus.

NIGERIA

* April loading programmes were continuing to clear and around 20 remain. Exxon has sold some April-loading Qua Iboe, a trader said.

* Qua Iboe for April was offered at dated Brent plus $1.70 to $1.80 a barrel, and May Exxon was offering May-loading Qua at a more ambitious dated plus $2.20, traders said.

ANGOLA

* Angola’s May cargoes are in strong demand and differentials are higher than those at which April cargoes were sold, a trader said.

* April’s programme has pretty much cleared.

TENDERS

* Indian Oil Corp. is running a buy tender for crude cargoes loading May 20-29, a trader said.

* Uruguay’s state-run oil company ANCAP is also running a buy tender, but further details were not immediately available. (Reporting by Alex Lawler, editing by David Evans) ))