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W. Africa Crude-Angolan allocations slow to emerge

Published 25/03/2021, 18:30
© Reuters
ENI
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LONDON, March 25 (Reuters) - Angola's state oil firm,
Sonangol, had not yet allocated its May cargoes on Thursday,
with traders expecting all cargoes to go to term customers.

* Sonangol usually keeps a few cargoes to trade spot.
* Traders said the allocations delay was unusually long.
They typically emerge within a few days of the programme. The
May programme came out last week while an overhang of Angolan
was slow to clear.
* Uruguay's ANCAP was said to have bought a cargo of
Nigerian Qua Iboe from Trafigura in its latest tender for
mid-May arrival.
* China's Unipec has sold some of the Angolan crude it has
been offering for several weeks but still had Antan, Gindungo,
Mostarda and Plutonio available.
* Two overhang cargoes of Angolan crude were sold to
independent Chinese refiners. Equinor sold a March loading Hungo
and BP sold a Mostarda.

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* Abu Dhabi National Oil Company (ADNOC) has deepened crude
oil supply cuts to Asian customers in June to 10%-15% from
5%-15% in May, one week ahead of an OPEC+ meeting, several
sources with knowledge of the matter said on Thursday.
* An Italian judge accepted on Thursday a request filed by
energy group Eni ENI.MI with prosecutors to pay 11.8 million
euros ($14 million) to settle an investigation into oil permits
in Congo Republic. * Nigeria's parliament may pass the long-delayed Petroleum
Industry Bill (PIB) in April, the country's minister of state
for petroleum said on Thursday. The measure, which is 20 years
in the making, underpins everything from oil exploration to gas
pipelines and fuel regulation.

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