Saturday , 17 March 2018

W. Africa Crude-Angolan trade slow, Nigerian steady

Angolan crude for June loading has not attracted much spot buying interest yet as offer levels fail to tempt buyers.
But the demand for Nigerian grade of crudes was steady.
The full set of June loading programmes has not been issued yet.
 Few spot sales of June-loading Angolan cargoes have come to light. BP was heard to have sold its early June-loading Mondo cargo, but buyer and price details were not known.
Sonangol’s offers of Dalia and Sangos cargoes, at dated Brent minus $3 and dated minus $1.80 respectively, were unchanged from Friday.
[spacer height=”20px”]
The company has allocated 13 June-loading cargoes to term buyers.
Other sellers were offering cargoes of Pazflor at dated minus $3.00 and Hungo at dated minus $2.60, a trader said.
 About 14 to 15 May-loading cargoes are still unsold, traders said, on a par with Friday’s assessment.
The full set of June-loading programmes has yet to emerge. Programmes for Erha, Forcados and a few smaller grades have not been issued.
[spacer height=”20px”]
Qua Iboe was valued at about dated Brent plus $1.00 to plus $1.10, in line with Friday.
The results of buying tenders from Indian refiners MRPL and BPCL are expected early this week. MRPL is looking for June-loading crude and BPCL is seeking second-half May barrels.
-          Alex Lawler; editing by Susan Thomas, Reuters




About Alison_Godswill

Check Also

CERAWEEK-Shale boom, oil price stability dominate Houston energy conference

The world’s largest oil producers appealed to U.S. shale producers to join their efforts to …

Leave a Reply

Your email address will not be published. Required fields are marked *