LONDON, Dec 27 (Reuters) - Freight rates for major routes
from West Africa to Europe and East Asia have settled near 2019
highs and sellers have offered cargoes for low prices relative
to last month in order to drum up interest during the holiday
buying period.
* Freight rates for supertankers from Angola to China and
for suezmaxes from Nigeria to Europe have remained steady for
days at nearly $5 and nearly $3 a barrel respectively.
* The rates have dissuaded usually more robust Chinese
buying of heavier sweet crudes from Congo, Cameroon and Angola
in recent weeks, though demand for lower sulphur fuels remains
generally high.
* Angola's state oil company Sonangol offered two Dalia
cargoes this week for below dated Brent plus $3.00, around 50
cents lower than at this time in the trading cycle last month.
* Still, one potential buyer said Sonangol's asking prices
were inflated and didn't reflect a market weighed down by
shipping rates and lacklustre margins.
* At just over 842,000 barrels per day (bpd), Angola's
exports to China in December were among the lowest in 2019.
TENDERS
* India's HPCL has issued a buy tender for cargoes loading
Feb. 10-20 or for March 10-20 delivery, with bids remaining
valid until Dec. 31.
* Taiwan's CPC fulfilled a tender for crude arriving in
March with U.S. WTI.
RELATED NEWS
* Nigeria LNG (NLNG) signed a long-awaited final investment
decision on its Train 7 processing unit in Abuja on Friday,
taking a step forward in increasing its liquefied natural gas
production. * The Organization of the Petroleum Exporting Counters and
its allies, known as OPEC+, may consider wrapping up their oil
output reduction in 2020, Russian Energy Minister Alexander
Novak said.