W. Africa Crude-More February loading programmes emerge

Published 23/12/2019, 16:16
© Reuters.  W. Africa Crude-More February loading programmes emerge

LONDON, Dec 23 (Reuters) - More February loading programmes

emerged on Monday although the market was subdued because of the

holiday period, high freight rates and strong dated Brent which

capped Asian demand.

* Refineries in Asia have paid multi-year high premiums for

sweet crudes produced in the region, especially from Malaysia as

Western barrels have become expensive. Petronas is reported to

have sold 300,000 barrels to Shell at Dated Brent plus $9.50 a

barrel, according to Refinitiv research.

* Exports of Nigeria's four key crude oil grades are set to

rise in February to 888,000 barrels per day (bpd) from 759,000

bpd in January, according to loading programmes.

* Bonga loadings have bounced back after maintenance to

131,000 bpd from 31,000 in January while Forcados rose

substantially to 297,000 bpd.

* Two cargoes of Usan will load in February along with one

Yoho.

* Equatorial Guinea will export two cargoes of Zafiro in

February.

TENDERS

* India's IOC issued a short tender after its last tender

for crude loading Feb. 1-10 did not secure a West African grade.

* India's HPCL issued a new tender closing next week.

RELATED NEWS

* Kuwait's oil minister said on Sunday he hoped Kuwait and

Saudi Arabia would resolve the Neutral Zone issue by the end of

2019.

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