LONDON: Angola will export less crude oil in November than in October, based on a preliminary loading schedule on Monday that showed shipments will likely fall to their lowest since August.
The early schedule, seen by traders, showed a drop in the number of cargoes to 44 in November and equates to a daily rate of 1.41 million barrels per day, from October's final 49 cargoes and 1.52 million bpd.
That would be the lowest amount since August's 1.33 million bpd rate, which in turn was a 12-year low.
The schedule included four cargoes of new grade Gindungo, which comes from Total's Kaombo oil field.
Meanwhile, BP was again actively bidding for Nigerian cargoes loading in late October and early November, although, in the absence of any November loading programmes, made no purchases, traders said.
BP bid for one cargo of Forcados loading between Oct 13-17, as well as for two additional cargoes, one Forcados and one Bonga, loading Nov 6-11. BP was believed to have started bidding around $1.50 a barrel above the dated Brent price, but escalated this as high as $1.65.
Several traders said no other cargoes were on offer, although with only days to go until the release of the November loading programmes, it was not unusual for bids and offers to dry up.
ANGOLA
* The November loading programme will fall to 44 cargoes, from October's 49, according to a preliminary schedule seen by traders on Monday.
* A small handful of cargoes remain from the October programme, traders said.
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