W. Africa Crude-Buyers await easing of Angolan offers

LONDON, Sept 5 (Reuters) – Asian and European buyers continued to show interest in Angolan oil as it sells briskly this month, but remaining cargoes will need to be discounted to sell, according to some traders.


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

* Chinese buyers are on pace to buy much of Angola’s supply, but state oil company Sonangol has lowered its offer for its last remaining cargo for the month, a Dalia.

* Heavy sweet crudes remain sought after ahead of rules mandating low-sulphur fuel oils, but steep backwardation and the all-time high differentials make South American, Middle Eastern and Australian oil more affordable for the East.

* A cargo of Mostarda was being offered at dated Brent plus $1.30 and Mondo at dated Brent plus $2.45.


* High volumes for October loading at the North Sea’s new Johann Sverdrup field were causing traders to question some of the high offered prices for comparable Nigerian grades.

* Bonny Light and Qua Iboe continue to be offered for as high a premium of $3.00 compared to dated Brent.

* Ghanaian TEN and Jubilee were being offered at a premium of $2.80 and $3.10 compared to dated Brent, respectively.


* India’s IOC issued two tenders for loading Oct. 11-20 and Nov. 1-10. Winner details had yet 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.

* Both Uruguay’s ANCAP and Astron Energy in South Africa issued tenders for crude exporting on October, though details did not immediately emerge.


* Exxon Mobil has agreed to sell its Norwegian oil and gas assets for up to $4 billion, in a move that marks the U.S. firm’s exit from production in the country where it has operated for more than a century, sources said on Thursday.

* Sinochem Energy Technology Co Ltd, a subsidiary of state oil and chemicals firm Sinochem Group, is in talks with Royal Dutch Shell and Macquarie Group to build an energy blockchain platform, sources said. (Reporting by Noah Browning; editing by David Evans) ))


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