LONDON, Dec 11 (Reuters) - Cargoes of West African crude
have been bought up by a Chinese independent refiner and in
large quantities by India's IOC, but differentials remain
largely flat or down on freight rates and unfavourable market
structure.
* Indian Oil Corp, the country's top refiner, took in six
cargoes of West African crude, likely all Nigerian oil,
culminating in its latest tender closing on Wednesday.
* The sellers included Total with two million barrels, Vitol
with the same amount and a cargo of Nigerian Agbami crude from
Chevron all for February arrival.
* Chinese independent refiner Shandong Shouguang Luqing
Petrochemical has recently completed purchasing including
Emirati Murban, North Sea Flotta, Angolan Hungo and Brazilian
Tupi.
* Around ten cargoes or below of Angolan crude were still
available for export in January.
* Offers for the three remaining cargoes of Angolan CLOV
stood at around dated Brent plus $1.70, one cargo of Kissanje
was offered at about $1.50 and one of Saturno for around plus 50
cents.
* Backwardation and high freight rates largely accounted for
slow sales to East Asia.
* Indonesia's Pertamina closed a buy tender for February
arrival cargoes on Friday, but details did not immediately
emerge.
RELATED NEWS
* Nigeria is considering new oilfield licensing rounds next
year, NNPC chief Mele Kyari said on Friday. * Ecuadorian state-run oil company Petroecuador is weighing
a lawsuit against Vitol after the world's largest oil trader
admitted last week to bribing officials in the South American
country, according to two sources with direct knowledge of the
matter.