LONDON, Aug 18 (Reuters) - Offers for Nigerian light sweet
crude eased somewhat while Angolan cargoes for export in
September and October remained numerous and prompted traders'
expectations of further price cuts.
* Despite rapid sales earlier this month, at least 10
cargoes of Angolan crude or a quarter of the September export
programme have yet to find buyers.
* China's massive build-up of crude oil inventories this
year slowed somewhat in July, but remained elevated by
historical standards as imports stayed near record levels.
* Reduced Chinese buying was the main factor in one of the
slowest trading in Angolan crude for several months.
* Sellers of light sweet Nigerian crude awaited the results
of a buy tender by Refidomsa of the Dominican Republic, which
closed earlier this week.
* Poor European margins have caused offers of Bonny Light
and Qua Iboe crude to slip further below dated Brent plus 50
cents, though potential buyers still deem this too expensive.
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* Qatar Petroleum has entered into an agreement with Angolan
national oil company Sonangol and Total TOTF.PA to acquire a
30% participating interest in Block 48 offshore Angola.
* Nigeria's oil ministry will present a long-awaited oil and
gas reform bill to the president in the coming days aimed at
boosting output and attracting foreign investment.