LONDON: Several buy tenders helped mop up some December loading Nigerian crude on Wednesday, while there was still no sign of Angola’s January loading programme.
Angolan President Joao Lourenco dismissed Isabel dos Santos as chair of the state oil company Sonangol on Wednesday, in a dramatic move against the family of the former president.
Differentials for Nigerian Qua Iboe were under pressure after a cargo injected at the end of November for ExxonMobil was offered at dated Brent plus $1.00 a barrel.
Offers for December loading cargoes have been higher at around dated Brent plus $1.30 but any deals were thought to be done lower.
Chevron has sold its cargo of Usan while Total and Shell were still offering at around dated Brent plus 40 cents a barrel.
A handful of December-loading cargoes were left from the Angolan loading plan.
TENDERS
Nigeria’s Famfa Oil has issued a sell tender for six months worth of Agbami crude loading in 2018, traders said.
A Turkish Tupras tender to buy a cargo of west African crude was awarded to Glencore, traders said, for a cargo of Nigerian crude.
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 was awarded to BP for a cargo of Agbami loading Dec. 4-5, traders said.
Source: Brecorder.com
