W. Africa Crude-Buyers wait for Nigerian offers to ease

LONDON, Sept 4 (Reuters) – Spot buyers held back on Wednesday as they waited for sellers to lower their cargo offer levels to compensate for weakening refinery margins.

* About 15 cargoes of Angolan oil remain available for export in October.

* State oil company Sonangol lowered its offer level for its remaining cargo of Dalia by 10 cents to dated Brent plus $2.90 a barrel.

* A cargo of Kissanje was being shown at dated Brent plus $3.00 and Gindungo at dated Brent plus $2.00.

* Two October loading cargoes of Qua Iboe were being offered at dated Brent plus $2.70 and plus $3.00 a barrel. Several October loading Bonny Light cargoes were offered at dated Brent plus $3.00 a barrel and a September loading cargo was shown at dated Brent plus $2.75.

* A October loading cargo of Forcados was offered at close to $4 a barrel above dated Brent.

TENDERS

* India’s IOC issued two tenders for loading Oct. 11-20 and Nov. 1-10. Winner details are expected to emerge on Thursday.

* Indonesia’s Pertamina issued a buy tender for light crude cargoes, including west Africa, for Nov. 1-19 delivery. It closes on Sept. 6 and remains valid until Sept. 10.

* Indonesia’s Pertamina issued a second buy tender for condensate cargoes for Dec. 1-5 delivery cargoes. It closes on Sept. 6 and remains valid until Sept. 10.

RELATED NEWS

* The trading arm of Nigeria’s state oil firm is leaving London to set up in Dubai to be closer to the Asian market which is fast becoming the main buyer of the west African country’s crude, four oil industry sources said. (Reporting by Julia Payne) ))

Comments

Leave a Reply

Skip to toolbar