W. Africa Crude-Angolan term allocations emerge, tenders circulate

Published 22/09/2020, 17:11
© Reuters.

LONDON, Sept 22 (Reuters) - Term allocations for Angolan
crude due for November export were largely finalised by Tuesday,
while traders expected a flurry of tenders to provide more
clarity as differentials sag on weak demand.

* Angola's Sonangol has nearly finalised its November cargo
term deals in which it has allocated seven to China's Sinochem -
steady on last month - one to India's IOC and another to a
yet-to-be determined firm.
* Sonangol will sell its cargo of Girassol loading Nov.
23-24 on the spot market.
* India's HPCL and Thailand's PTT both have buy tenders
including West African grades, for two million barrels and less
than half a million barrels respectively, closing on Tuesday.
* Traders said Vitol was awarded a buy tender by India's IOC
late last week with a cargo of Nigerian Qua Iboe crude.
* Uruguay's Ancap is running two buy tenders set to close on
Thursday.
* Taiwan's CPC has closed a tender for sweet crude, valid
until Wednesday, for crude arriving in December.

RELATED NEWS:
* Angola's state oil company Sonangol reported EBITDA of
just under $4.8 billion in the year to Dec. 31, it said in a
statement on Tuesday, when it said it produced around 232
thousand barrels of crude oil per day. * Libya's National Oil Company said it expected oil
production to rise to 260,000 barrels per day (bpd) next week,
as the OPEC member looks to revive its oil industry, crippled by
a blockade since January.

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