W. Africa Crude-More Angolan cargoes find buyers

Published 12/10/2020, 17:07
Updated 12/10/2020, 17:12
© Reuters.

LONDON, Oct 12 (Reuters) - More Angolan cargoes for November
loading have found buyers, traders said on Monday, while the
Nigerian market remained under pressure.

ANGOLA
* A few November-loading cargoes were still available, down
from as many as 10 towards the end of last week. One trader said
four or five were left.
* A cargo of Pazflor being offered last week is no longer on
the market, a trader said. There may be a Saturno cargo left,
although one trader said this was committed.
* Two cargoes of CLOV remain unsold. CLOV was last heard
offered at dated Brent plus 70 cents, but one trader said the
cargoes may now be offered on a delivered, cif basis.
* Angola's December loading programmes should be issued on
Friday or Monday, based on the usual monthly schedule.

NIGERIA
* Ample supply of Nigerian crude and the ramp-up of Libyan
production, which can compete with Nigerian oil, has been
weighing on differentials.
* Qua Iboe was pegged at a discount to dated Brent, steady
from Friday.

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