W. Africa Crude-Spot market muted, Pertamina issues tender

LONDON, Aug 27 (Reuters) – A sizeable overhang of September-loading crude weighed on the market on Tuesday, with October trading yet to get start for Nigerian grades.

* About 15-20 Nigerian cargoes remained from the September programme. Egina was being offered at least $4 above dated Brent, traders said. About three Forcados cargoes remain and Qua Iboe was still on offer at dated Brent plus $2.50.

* A handful of September-loading Angolan crude remained on offer to Asia on a cif basis.

* Indonesia’s Pertamina issued a buy tender for crude for November delivery of West African crude cargoes. The tender closes on Aug. 30 and remains valid until Sept. 3.


* Brazil’s planned privatisation of eight Petroleo Brasileiro SA refineries has lured several of the world’s largest trading and oil companies as prospective bidders, said two sources with knowledge of the matter.

* Nigeria will not relinquish assets to a firm registered in the British Virgin Islands after a court ruling related to a dispute over a $9 billion gas project, the West African country’s information minister said on Tuesday. (Reporting by Julia Payne Editing by David Goodman) ))


Leave a Reply

Skip to toolbar