W. Africa Crude-Angolan cargoes linger as demand remains slack

 LONDON, Jan 6 (Reuters) - Sellers of Angolan crude were
offering several cargoes on Monday as activity remained subdued
after the holidays. * As many as 20 of Angola's 38 cargoes for February are for
sale of which four are re-offers, traders said, a large volume
for this stage in the monthly trading cycle * State oil company Sonangol was still seeking to sell
cargoes of Gindungo, Hungo, Olombendo and Dalia. The latter
crude was offered at dated Brent plus $2.50, steady from Friday * Backwardation, high freight rates and lacklustre margins
have dampened trading TENDERS * Indian Oil Corp. is running two buying tenders this week
for crude for delivery in the first half of March, a trader said * Turkey's Tupras closed a tender to buy Bonny Light,
Forcados or Jones Creek for Feb. 25 to March 5 delivery (Reporting by Alex Lawler
Editing by David Evans) ))

Leave a Reply

Skip to toolbar