W. Africa Crude-Angolan diffs edge down

Published 03/09/2019, 17:28
Updated 03/09/2019, 17:30
© Reuters.  W. Africa Crude-Angolan diffs edge down
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LONDON, Sept 3 (Reuters) - Price offers for Angolan oil have

eased, traders say, as demand for its heavy and sweet crude

grades remains robust in Asia but competition from Mideast and

Australian oil has strengthened.

* About 15 cargoes of Angolan oil remain available for

export in October.

* State oil company Sonangol was down to its last cargo for

the month, keeping its offering for Dalia crude at a premium of

$3 to dated Brent.

* A cargo of Australian Vincent oil, a heavy sweet crude,

was offered for export over Sept. 26-30, the first cargo to be

advertised since field expansion in May 2018. * Differentials for Nigerian crude remained sluggish as

European gasoline margins slackened amid fewer exports.

* Traders hope interest in East and Southeast Asia might

help to clear some cargoes but noted that shipping costs on the

route might prove prohibitive.

TENDERS

* India's IOC issued two tenders for loading Oct. 11-20 and

Nov. 1-10, closing on Wednesday.

RELATED NEWS

* Asia's crude oil imports from the United States climbed to

a record high in August, but that may be as good as it gets for

some time - and it's not just the escalating trade war between

Washington and Beijing to blame. * Nigeria's economic growth slowed to an annual rate of

1.94% in the three months to the end of June, the second

successive quarter of decline as the country struggles to shake

off the effects of a recession it escaped two years ago.

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