W. Africa Crude-Bonny Light under force majeure

Published 22/01/2020, 17:43
© Reuters.  W. Africa Crude-Bonny Light under force majeure
BP
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SHEL
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LONDON, Jan 22 (Reuters) - Sonangol began offering March

cargoes on Monday while constrained Bonny Light exports could

help boost demand for lingering February loading Nigerian

cargoes.

* Around 10-15 Nigerian are still being offered for export

in February, two traders said, though others may eventually be

absorbed by oil majors' own refining systems.

* Royal Dutch Shell's RDSa.L Nigerian subsidiary SPDC

declared force majeure on Bonny Light crude oil exports

effective from Jan. 20, a spokesman said on Wednesday, after one

of the two pipelines transporting the grade was shut.

* Bonny Light is still flowing to the export terminal

through the Trans Niger pipeline.

* Angola's state firm Sonangol was offering two cargoes of

March loading Dalia at dated Brent plus $2.80 a barrel, a cargo

of Girassol at dated Brent plus $3.90 and a cargo of Olombendo

at dated Brent plus $3.70.

* India's IOC issued a small buy tender with results

expected on Thursday.

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* Change is afoot at BP . Incoming Chief Executive Bernard

Looney plans to expand the company's climate targets and is

considering overhauling the structure of the oil and gas major

in one of the biggest shake-ups in its 111-year history.

* More stringent climate targets could lead to London-based

BP BP.L selling its most carbon-intensive businesses such as

oil and gas fields in Angola and Canada, sources added.

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