W. Africa Crude-Angolan December cargoes almost sold out, new programme emerges

 LONDON, Nov 18 (Reuters) - Angolan crude oil for export in
December had almost cleared as preliminary programmes for sale
in January emerged on Monday. ANGOLA * State oil company Sonangol's preliminary export programme
for January listed 43 cargoes for the month, down slightly from
the 47 for December's final programme. * The initial number is roughly in line with volumes from
previous months, with December exports set originally at 44. * Around five cargoes or fewer remain from the December
programme, in a smaller glut than normal for this point in the
trading cycle as Asian demand for middle distillates like gasoil
remains robust. NIGERIA * Light sweet Nigerian crudes like Bonny Light continued to
be offered at at least a premium of $3.50 above dated Brent,
with one cargo of Qua Iboe even selling recently for $4.00. * The offers mark five-year highs and come as prices for
comparable grades in the North Sea and Mediterranean spiked at
the beginning of this month. * The price hikes were even benefiting certain heavier,
sweet grades like Escravos Nigerian crude, traders said. * Still, a slowdown for European gasoline cracks over the
course of last week appears to have cooled the pace of sales and
buyers expected prices for suitable crudes to fall. * Between 20-25 Nigerian cargoes are available for sale in
December, a relatively low number reflecting the faster pace of
purchases recently despite higher prices. RELATED NEWS * India's Nayara Energy Ltd, part-owned by Russian oil major
Rosneft , imported 12% less oil in October from the
same month a year earlier, according to data from the shipping
industry and sources. * Sustained economic sabotage by vandals on Nigeria's
oil-exporting Nembe Creek Trunk Line (NCTL) has led to
significant losses in production, operator Aiteo said on Sunday. (Reporting by Noah Browning; Editing by Susan Fenton) ))

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