LONDON, June 12 (Reuters) - Offers for many West African
grades continued to slip as Chinese buying eased and European
demand remains sluggish, with fears for a second wave of
coronavirus infections and generally poor refining margins
worldwide weighing on sentiment.
ANGOLA
* Weeks of Chinese buying which have firmed up prices in
previous weeks has lost steam.
* Around 10 cargoes of crude oil remain to be sold in July
as August export programmes are due at the beginning of next
week, marking one of the poorest months for sales recently.
* Heavier Angolan Dalia crude and Congolese Djeno were last
offered at around a $1 above dated Brent, significant slides
from offers about a week earlier.
NIGERIA
* At least 30 cargoes remain for export in July, as margins
recovered slightly globally but gasoline stocks have stayed
stubbornly high in key European markets.
* Indian demand continues to provide a bright spot as
refiners in the country consistently absorb Nigerian cargoes
though storage levels remain high there.
* Two traders said offers for lighter Nigerian crudes at
around $1 above dated Brent were still too high to attract
Western buyers.
TENDERS
* India's HPCL has two spot tenders for 2 million barrels of
oil, including mostly West African grades. One is for Sept. 1-10
delivery and the other for Oct. 1-10. Both close next week.
* Uruguay's Ancap had issued tenders for oil including West
African grades due to arrive in August, set to close next week.
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rivalry between Washington and Beijing. * Ship owners are postponing or cancelling the installation
of "scrubbers" that extract harmful sulphur emissions from their
vessels as the coronavirus pandemic tightens finances.