W. Africa Crude-Angolan December programme emerges

Published 19/10/2020, 16:55
© Reuters.

LONDON, Oct 19 (Reuters) - Preliminary Angolan export plans
for December emerged, while Nigerian oil met with more buyer
interest amid firming margins.

ANGOLA
* State oil company Sonangol issued plans to export 38
cargoes in December.
* The figure includes 3 cargoes - a Saturno, Sangos and
Plutonio - deferred from the previous month.
* Around three cargoes remain unsold for October, as offer
prices for the new month were still largely absent.
* Sellers were cheered by buoyant Chinese refinery activity
and continued economic recovery, but margins remain poor,
especially for middle distillates.

NIGERIA
* Differentials for some grades of Nigerian crude rose
slightly, as European margins have improved moderately.
* India's IOC filled a buy tender for early December-loading
crude with Nigerian grades, with Total providing Akpo and EA
Blend while Glencore will provide Okwuibome.
* Erha crude, which has suffered from loading delays in the
last couple of months, was being offered for a little above
dated Brent flat.
* Light sweet grades like Qua Iboe and Bonny Light were
still expected to trade just above dated Brent minus 50 cents.


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