W. Africa Crude-Flurry of Angolan on offer, IOC issues tender

Published 04/11/2019, 16:36
Updated 04/11/2019, 16:46
© Reuters.  W. Africa Crude-Flurry of Angolan on offer, IOC issues tender
PETR4
-

LONDON, Nov 4 (Reuters) - Many spot Angolan cargoes were on

offer on Monday while Nigerian activity remained subdued though

differentials have risen since last month.

* Just under 20 Angolan cargoes remained from the December

programme with close to half of those with Total.

* The final Angolan loading programme for December was set

at 45 cargoes with an additional two partial cargoes of Palanca

and Gimboa and Plutonio to be kept by Angola's state firm

Sonangol.

* Sonangol was still said to be offering a cargo of Gimboa

at around dated Brent plus $2.00 and sold its cargoes of Mondo

and Pazflor.

* Chevron was offering an end-December cargo of Cabinda at

around dated Brent plus $2.00.

* Girassol was being offered as high as dated Brent plus

$2.90 a barrel.

* Nigerian spot activity was slow though offer levels on key

grades such as Bonny Light have rebounded to levels they were at

before sanctions were imposed on COSCO subsidiaries.

* Freight rates soared after the United States placed

sanctions on subsidiaries of Chinese shipping firm COSCO at the

end of September.

TENDERS

* India's IOC issued a buy tender closing on Nov. 7 for west

African crude loading Jan. 1-10.

RELATED NEWS

* Oil trader Vitol has quit a consortium that was set to buy

a stake in two Nigerian oil fields from Brazil's Petrobras

PETR4.SA , its former partner said on Friday. * Saudi Aramco's blockbuster listing remained shrouded in

mystery on Monday, a day after the company announced its plans,

with scant details disclosed and expert valuations varying

wildly from around $1.2 trillion to $2.3 trillion.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.