LONDON, June 10 (Reuters) - Spot activity was weak on Monday
as a sharp drop in light end margins kept buyers at bay while
Angolan crude was offered in the window in a rare move.
* Profit margins for making petroleum feedstock naphtha have
hit their weakest in over a decade in Asia and a seven-year low
in Europe as the global economy weakens and large-scale
processing unit outages hurt demand. * Gasoline margins in Europe have also dipped. Nigerian
grades are mostly light, sweet and have higher yields of those
products.
* Nigerian cargoes have struggled to sell after early month
price indications dissuaded customers, although traders said
offers were beginning to come down.
* Offer levels for Bonny Light and Qua Iboe were being heard
at around dated Brent plus $2.50.
* In the Platts window, Unipec offered a cargo of Mostarda
at dated Brent plus 20 cents a barrel loading July 28-29.
* Unipec also offered a cargo of Sangos at dated Brent plus
90 cents loading July 16-17.
TENDERS
* Indonesia's Pertamina is running a tender for southeast
Asian, Australian and Nigerian grades for delivery Aug. 9-11,
set to close on Tuesday.
* Tenders by Uruguay's ANCAP for two cargoes for Aug. 15-19
and Sept. 1-5 arrival closed on Thursday, but the winners did
not immediately emerge.
RELATED NEWS
* Nigeria's securities regulator has ordered the suspension
of Oando's annual shareholder meeting due to be held on June 11,
the Securities and Exchange Commission said on Monday.
* Swiss energy trader Gunvor Group bounced back in the first
quarter of this year after posting a steep net loss for 2018 as
restructuring started to pay off, its new chief financial
officer said.