LONDON: BP bid for many cargoes of four Nigerian grades in the window on Thursday at the same level for a third consecutive session.
Separately, a few spot cargoes changed hands while India’s IOC and Indonesia’s Pertamina both took multiple cargoes of west African crude in their latest tenders.
NIGERIA
BP returned again to the window to bid for 9 cargoes of Forcados, Bonny Light, Qua Iboe and Bonga all loading at various times throughout October up to dated Brent plus $1.70 a barrel.
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The level was unchanged from the previous two sessions when BP bid for the same cargoes.
The four grades are used to underpin the contracts-for-difference swaps market and trading in the physical market can frequently be linked to a position on the paper side.
Glencore sold its Oct. 22-23 cargo of Amenam to BP, traders said.
Total was offering Amenam at dated Brent plus 75 cents a barrel and was said to have three cargoes still.
Just under 30 cargoes of Nigerian crude were available from the Nigerian programme.
ANGOLA
BP was said to have sold its cargo of Pazflor to an independent refiner in China.
Eni and Unipec were still offering Olombendo, Chevron still has its Oct. 19-20 Cabinda and Total was showing Gindungo, traders said.
On a delivered basis to Asia, Statoil was offering CLOV, Dalia and Girassol.
Source: Brecorder
