Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

W. Africa Crude-Buyers await easing of Angolan offers

Published 05/09/2019, 17:22
Updated 05/09/2019, 17:30
© Reuters.  W. Africa Crude-Buyers await easing of Angolan offers
SHEL
-
XOM
-
LCO
-

LONDON, Sept 5 (Reuters) - Asian and European buyers

continued to show interest in Angolan oil as it sells briskly

this month, but remaining cargoes will need to be discounted to

sell, according to some traders.

ANGOLA

* Around 15 cargoes of Angolan oil remain available for

export in October.

* Chinese buyers are on pace to buy much of Angola's supply,

but state oil company Sonangol has lowered its offer for its

last remaining cargo for the month, a Dalia.

* Heavy sweet crudes remain sought after ahead of rules

mandating low-sulphur fuel oils, but steep backwardation and the

all-time high differentials make South American, Middle Eastern

and Australian oil more affordable for the East.

* A cargo of Mostarda was being offered at dated Brent plus

$1.30 and Mondo at dated Brent plus $2.45.

NIGERIA

* High volumes for October loading at the North Sea's new

Johann Sverdrup field were causing traders to question some of

the high offered prices for comparable Nigerian grades.

* Bonny Light and Qua Iboe continue to be offered for as

high a premium of $3.00 compared to dated Brent.

* Ghanaian TEN and Jubilee were being offered at a premium

of $2.80 and $3.10 compared to dated Brent, respectively.

TENDERS

* India's IOC issued two tenders for loading Oct. 11-20 and

Nov. 1-10. Winner details had yet to emerge on Thursday.

* Indonesia's Pertamina issued a buy tender for light crude

cargoes, including west Africa, for Nov. 1-19 delivery. It

closes on Sept. 6 and remains valid until Sept. 10.

* Indonesia's Pertamina issued a second buy tender for

condensate cargoes for Dec. 1-5 delivery cargoes. It closes on

Sept. 6 and remains valid until Sept. 10.

* Both Uruguay's ANCAP and Astron Energy in South Africa

issued tenders for crude exporting on October, though details

did not immediately emerge.

RELATED NEWS

* Exxon Mobil (NYSE:XOM) has agreed to sell its Norwegian oil and gas

assets for up to $4 billion, in a move that marks the U.S.

firm's exit from production in the country where it has operated

for more than a century, sources said on Thursday. * Sinochem Energy Technology Co Ltd, a subsidiary of state

oil and chemicals firm Sinochem Group, is in talks with Royal

Dutch Shell (LON:RDSa) and Macquarie Group to build an energy blockchain

platform, sources said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.