W. Africa Crude-East Asian demand seen reviving, sales still slow

Published 02/09/2020, 17:04
Updated 02/09/2020, 17:06
© Reuters.

LONDON, Sept 2 (Reuters) - Offers for Nigerian and Angolan
crude remained steady as some West African cargoes traded,
though sale prices remained elusive and demand was still largely
weak.

* The buy tender issued by Taiwan's Formosa was filled by a
cargo of Angolan Girassol from state oil company Sonangol,
traders said.
* Taiwan's CPC did not ultimately award a tender for sweet
oil for delivery in November.
* China's Unipec was not believed to have sold any of its
term-allocated cargoes except for one cargo of Mostarda crude
which was purchased by Mercuria for dated Brent minus 40 cents.
* Sonangol's offers for a large handful of its remaining
spot cargoes remained largely steady, with traders seeing a
dearth of Chinese buying coming to an end as demand perks up.
* Nigeria's NNPC issued a tender for its annual crude oil
contracts, with bidders having until Sept. 16 to make
submissions, and final submissions closing on Oct. 15.
RELATED NEWS
* Switzerland has frozen $900 million held in accounts
belonging to a top Angolan businessman as part of a
money-laundering investigation, according to court documents
seen by Reuters, one of the largest personal asset freezes in
Swiss history. * Iraq is seeking an exemption from an OPEC+ deal curbing
oil production during the first quarter of 2021 but will adhere
to the cuts over the next three months, Oil Minister Ihsan Abdul
Jabbar said.

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