West Africa Crude-Angolan export programmes due, Nigerian market in surplus

13 Nov, 2018

NIGERIA

* At least 30 Nigerian cargoes are left from the December programme, which originally contained 64 cargoes, although this surplus was smaller than the 35 estimated late last week.

* Diffs held unchanged. Qua Iboe and Bonny Light were last indicated around $1.75 a barrel above dated Brent, which traders said was too high given the size of the unsold overhang.

ANGOLA

* Around half a dozen cargoes are still unsold from the December loading programme, down from eight estimated on Friday. The January programme is expected to be issued later this week.

TENDERS

* Indonesia's Pertamina re-issued a tender to buy West African crude loading on Dec. 1-15. No result has emerged as yet for the tender, which was valid until Monday.

* India's IOC was said to have awarded a tender to buy crude loading on Jan. 1-15 to Chevron and Glencore, for a co-load of Bonga, Agbami and Okwori.

Copyright Reuters, 2018
 

 

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