W. Africa Crude-Angola to export fewer cargoes, Nigerian OSPs awaited

Published 17/12/2019, 17:23
© Reuters.  W. Africa Crude-Angola to export fewer cargoes, Nigerian OSPs awaited

LONDON, Dec 17 (Reuters) - Preliminary February export

programmes for Angolan crude emerged on Tuesday showing a

somewhat reduced volume compared to previous months, while

Nigerian official selling prices are expected imminently.

ANGOLA

* Around five Angolan cargoes were still available for

export in January, a relatively low level compared to previous

months on solid European demand.

* The February preliminary programme projects 38 cargoes

plus three deferred from previous weeks -- down from 43 planned

for January.

* Chevron continued to seek a buyer for two cargoes of

Cabinda crude at over dated Brent plus $3.00, with one

originally set to load Jan. 19-20 and another Jan. 31-Feb. 1.

* One of those cargoes, along with a CLOV and a Mostarda

assigned to Total are now set to be exported in February amid

loading delays.

NIGERIA

* Nigeria's NNPC is expected to release its January official

selling prices, as some traders expected broad increases from

relatively low prices last month which were at odds with robust

demand and sales.

* At least 20 Nigerian cargoes remained from the January

schedule.

* Prices for Bonga and Egina crude have been buoyed by a

wave of demand as refiners seek them for production of

low-sulphur fuels ahead of new global rules, with the latter

selling for as high as dated Brent plus $4.00 recently.

TENDERS

* India's IOC issued a tender for crude loading Feb. 1-10.

The tender closes on Tuesday with results expected on Wednesday.

* India's HPCL issued a tender for crude loading Feb. 1-10

with results expected on Friday, Dec. 20.

RELATED NEWS

* Angola has recovered more than $5 billion stolen from

state coffers so far this year, both at home and from abroad,

Justice Minister Francisco Queiroz said on Monday, amid a

two-year crackdown on corruption. * Russia is hopeful of Russia's TMK and the Republic of the

Congo's national oil company, SNPC, signing a deal soon to build

an oil pipeline in the West African nation, Russian deputy

energy minister Pavel Sorokin said on Tuesday.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.