W. Africa Crude-Djeno programme emerges, buyers elusive for Unipec offers

Published 24/01/2020, 18:27
© Reuters.  W. Africa Crude-Djeno programme emerges, buyers elusive for Unipec offers

LONDON, Jan 24 (Reuters) - The March export programme for

Congolese Djeno crude oil emerged on Friday, while some Angolan

programmes began to sell.

* Seven cargoes of Djeno were set to be loaded in March,

after differentials from the grade slipped to dated negative in

the last trading cycle.

* Sales will likely continue to struggle as maintenance

issues relating to the loading port have put restrictions on

VLCC tankers.

* Angolan state oil company Sonangol sold two of four

cargoes it had been offering earlier in the week, with one from

the Dalia grade still being offered above dated Brent plus $2.50

and a cargo of Girassol also being offered.

* China's Unipec again offered a small handful of

term-allocated Angolan cargoes on the Platts window, as it

regularly does early in the trading cycle.

* The offers were for Pazflor at a premium to dated Brent of

$2.70, Saturno at a premium of 90 cents, and Gindungo at a

premium of 75 cents -- no buyers were secured.

* Shell has yet to publish an updated export schedule after

force majeure was declared this week over loadings of Nigerian

Bonny Light crude.

* At least 10 Nigerian cargoes remain for loading in

February and have been offered at steep discounts to the March

programme.

* Vitol and Chevron reportedly won a tender from India's IOC

late this week.

RELATED NEWS

* U.S. oil giant Chevron Corp is considering selling its

participating interest in the Indonesian Deepwater Development

(IDD) gas project, the company said, as it makes sweeping

changes to cut costs and streamline operations. * Portugal's engineering firm Efacec Power Solutions said

Angolan billionaire and former first daughter Isabel dos Santos,

who owns a controlling stake, had decided to withdraw from the

company's shareholding structure.

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