W. Africa Crude-Angolan prices drop as Chinese demand wanes

Published 03/08/2020, 17:26
Updated 03/08/2020, 17:30
© Reuters.

LONDON, Aug 3 (Reuters) - Angolan crude differentials fell
on Monday as Chinese demand waned due to port backlogs as the
worst floods in decades over the last month hit fuel demand.

* Spain's Cepsa and other majors were said to be taking more
Nigerian crude to Europe as demand elsewhere dims.
* State firm Sonangol sold a cargo of Gindungo to Unipec at
a discount to dated Brent.
* Sonangol cut offers by 60 cents a barrel for its remaining
three spot cargoes loading in September. Dalia was being shown
at dated Brent plus $1.00, Cabinda at dated Brent plus $1.20 and
Girassol at dated Brent plus $1.50.
* Eni was offering a cargo of Kissanje at dated Brent plus
$1.20.

TENDERS
* Uruguay's ANCAP issued a buy tender for crude for Oct. 3-7
delivery, closing on Aug. 5.

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