W. Africa Crude-Cheap freight sparks little buying interest as virus weighs

Published 10/02/2020, 19:16
Updated 10/02/2020, 19:19
W. Africa Crude-Cheap freight sparks little buying interest as virus weighs
0857
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LONDON, Feb 10 (Reuters) - Spot demand was limited on Monday

as more refinery run cuts in China were announced, with fuel

demand falling due to the coronavirus epidemic.

* Following state-owned Sinopec and some independent Chinese

refiners, known as teapots, PetroChina was the latest to

announce plans to reduce operations.

* PetroChina 0857.HK plans to cut its planned crude

throughput by 320,000 barrels per day (bpd) this month, an

official told Reuters on Monday. * Sinopec's trading arm Unipec sold a cargo of Pazflor to a

buyer in the western hemisphere after offering the parcel at

dated Brent plus 80 cents.

* Unipec was still offering two cargoes of Gindungo from

dated Brent minus 20 cents, and Sangos and Saturno at plus 50

cents and minus 65 cents respectively.

* Angolan state oil company Sonangol continued to offer a

cargo of Dalia at dated Brent plus $1.50.

* Just over 15 cargoes of Angolan crude remained from the

March programme including the Unipec cargoes.

* India's IOC issued a buy tender for crude loading April

11-20 with results expected Thursday.

* Perenco closed a sell tender for a cargo of Djeno with

results expected this week.

* Indonesia's Pertamina issued a buy tender for crude

cargoes for May 1-3 delivery. The tender closes on Wednesday

with bids valid until Friday.

RELATED NEWS

* Nigeria's oil ministry will send a new Petroleum Industry

Bill to parliament next week with the aim of passing it into law

by mid-2020, Minister of Petroleum Timipre Sylva said on Monday,

hoping to end years of delay that have hampered investment.

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