LONDON, July 26 (Reuters) - Angola's September export
programme was due to be finalised on Friday as ongoing
maintenance continued to delay loading at the offshore Saturno
field.
ANGOLA
* State oil company Sonangol was finalising its September
programme on Friday, with a preliminary plan to export 44
cargoes plus one deferred from last month -- a number set to
possibly go down by a couple cargoes.
* The deferral and the reduction revolve around maintenance
at the Saturno field which has lasted for more than two weeks
and delayed loading.
* Sonangol has sold out of the four cargoes allocated to it
for spot delivery.
* Differentials were up on improved Asian margins, eased
market backwardation and favourable freight rates.
* Chinese independent oil refiners are snapping up crude
cargoes from Angola as well as Russia, Oman and Brazil for
delivery in September-October as they ramp up operations after
refining margins turned positive in July. NIGERIA
* Up to 20 cargoes remained for August loading.
* Cargoes of certain major grades are struggling to sell
July and September loadings amid reduced U.S. demand and plenty
of competition in Europe from North Sea varieties.
* The Forcados stream has especially struggled, though along
with several Angolan grades, it stands to encounter higher
interest in coming months on new marine fuel rules in 2020.
RELATED NEWS
* Indonesia will not enforce new global rules mandating
low-sulphur marine fuels on its domestic shipping fleet because
of the high cost of cleaner fuel, an official from the country's
Ministry of Transportation said this week. * China will ramp up gasoline exports in July and August to
near record levels with cargoes moving to Mexico and Nigeria as
refiners seek outlets for their fuel amid a wave of new
production and slowing domestic demand.