LONDON: A few Nigerian and Angolan cargoes traded on Tuesday, traders said, but there is likely still to be a substantial overhang of Nigerian crude when Nigeria's January loading programmes start to emerge next week.
Angola's January loading programme is expected to emerge as soon as Wednesday.
NIGERIA
About two dozen Nigerian cargoes were left unsold, including a cargo of Qua Iboe injected at the end of November, traders said.
Some cargoes of Forcados and Bonga were still available.
Total was offering a cargo of Forcados at dated Brent plus $1.50 a barrel, a trader said.
Qua Iboe was still being offered at dated Brent plus $1.30. Buyers said traded levels were likely to be lower because of an overall excess of light sweet oil.
Litasco sold its Dec. 9-10 cargo of Bonga but buyer details did not emerge.
December loading cargoes of Agbami were said to have largely cleared out but deal details did not immediately emerge.
ANGOLA
Roughly seven to eight December-loading cargoes were left from the Angolan loading plan.
State oil firm Sonangol sold its Dec. 19-20 cargo of Dalia, traders said. Repsol was said to be the buyer, traders said, but this could not immediately be confirmed.
TENDERS
A Turkish Tupras tender to buy a cargo of west African crude for Dec. 25 to Jan. 5 delivery closed on Monday. Winner details were not immediately clear.
India's IOC issued a fresh tender to buy West African crude, for loading from Jan. 10-20, including a range of Nigerian and Angolan grades along with those from Cameroon, Ghana, Gabon and Equatorial Guinea.
A spot tender from Indonesia's Pertamina had closed, but the winner was not immediately clear. Chevron had previously won a term tender to supply the company with Cabinda in February and March.
RELATED NEWS
Sudan has held talks with Russian oil firm Lukoil and other companies from the United States and Canada on the development of its oil industry after the lifting of US sanctions, its oil minister said on Tuesday.
Global oil demand growth looks likely to increase more slowly over the coming months, as warmer temperatures cut consumption, which may tilt the market back into surplus in the first half of next year, the International Energy Agency said on Tuesday.
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