LONDON, Jan 7 (Reuters) - Chinese demand remained muted on
Thursday after oil futures hit an 11-month high and the market
shifted into slight backwardation.
* Nevertheless, sellers were said to be biding their time as
Saudi Arabia's announcement to make a steep production cut will
buoy differentials for alternatives. Further, Chinese
independents usually stock up ahead of the Chinese New Year.
* No cargoes of Congolese Djeno have yet traded from the
six-cargo February programme and about two cargoes remained from
the January schedule.
* Perenco's sell tenders for Gabonese Mandji and two Djeno
cargoes have closed but winner details did not immediately
emerge.
* South Africa's Sasol issued a buy tender for crude for
March 5-6 delivery closing on Friday.
* India's IOC closed two tenders for West African crude
loading Feb. 15-24 and Feb. 27 to March 8. Vitol was one of the
winners but further details did not emerge.
* Angola's Sonangol was still offering its three spot
cargoes of Dalia, Olombendo and Girassol and around 15 cargoes
remained from the February programme.
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largest refining complex at Port Harcourt, seven sources
familiar with the discussions said.