LONDON, July 22 (Reuters) - Spot activity was muted on
Monday amid a glut of oil in the Atlantic basin and despite last
week's drop in Nigerian official selling prices for August
cargoes.
* About 25 cargoes remained for August loading, with some
oil majors looking set to absorb excess cargoes into their own
refining systems.
* Shell and Phillips 66 offered cargoes of August-loading
Forcados at dated Brent plus $2.60 a barrel.
* Nigerian grades Qua Iboe and Bonny Light have recently
been offered at more than dated Brent plus $2.
TENDERS
* Taiwanese refiner CPC Corp has issued a tender for a West
African grade, with the tender closing this week.
* Indonesia's Pertamina closed a tender for one cargo a
month for October-December delivery but the result was slow to
emerge.
RELATED NEWS
* U.S. commodities trader Bunge BG.N and British energy
company BP BP.L will merge their Brazilian sugar and ethanol
operations to create the world's third-largest sugar cane
processor, they said on Monday. * Libya's National Oil Corporation (NOC) has restarted the
Sharara oilfield and lifted force majeure on loadings of its
crude oil from the Zawiya terminal, it said on Monday.