W. Africa Crude-April Angolan cargoes re-offered, tenders in focus

Published 25/02/2021, 18:05
© Reuters.

LONDON, Feb 25 (Reuters) - Angola finalised its term
allocations for April-loading cargoes, with state oil company
Sonangol assigning 13 cargoes, mostly to China.

* China's Unipec was allocated 10 of the cargoes but
re-offered six amid sluggish demand at home.
* Among those, a cargo of Plutonio was offered at dated
Brent plus 60 cents a barrel, Dalia at plus $1.25, Gindungo for
plus 50 cents and Mondo plus 30 cents.
* Chinese demand had only marginally picked up after the
conclusion of Lunar New Year's holidays last week, with market
structure encouraging draws on storage near at hand rather than
imports from far away.
* The provisional export programme for Congolese Djeno crude
emerged, down to six cargoes from eight originally planned for
March.
* Taiwan's CPC filled its tender for sweet crude arriving in
May with a cargo of Angolan Girassol crude, though further
details were yet to emerge.
* Indonesia's Pertamina has issued a tender for a single
cargo of crude arriving in early May set to close on Thursday.
* India's IOC has issued a tender for mid-May arriving crude
also set to close on Thursday.

RELATED NEWS
* Nigeria is losing 200,000 barrels of crude oil a day
because of theft and vandalism, the head of the state oil
company said, underscoring how insecurity is causing vast
financial losses for the West African country.

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