W. Africa Crude-More Indian tenders to mop up overhang

Published 06/04/2021, 17:46
Updated 06/04/2021, 17:48
© Reuters

LONDON, April 6 (Reuters) - Spot trade was quiet on Tuesday
despite a flurry of offers while new tenders were expected to
mop up some of the overhang.

NIGERIA
* Exxon Mobil was offering Qua Iboe cargoes loading in May
at dated Brent plus 10 cents. The company was also showing
Chadian Doba at dated Brent plus 80 cents and Equatorial Guinean
Zafiro at dated Brent plus 30 cents.
* Gunvor was offering an end-May loading cargo of Qua Iboe
at dated Brent plus 30 cents while Eni was showing a cargo of
Forcados at dated Brent plus 70 cents.

ANGOLA
* State company Sonangol was still offering a cargo of
Saturno at dated Brent minus $1.50, loading May 18. It sold a
cargo of Cabinda to Asia at the end of last week.
* Exxon was offering a cargo of Kissanje at dated Brent
minus 60 cents.

TENDERS
* South Africa's Sasol issued a buy tender, seeking crude
for May 24-25 delivery, closing April 6.
* India's IOC bought Norwegian grade Johan Sverdrup for the
first in its latest tender for crude loading May 27 to June 5.
* India's IOC issued two new tenders for west African crude
loading in early June. Both close April 8.

RELATED NEWS
* Indian state refiners will buy 36% less oil from Saudi
Arabia in May than normal, three sources said, in a sign of
escalating tensions with Riyadh even after the Kingdom supported
the idea of boosting output from OPEC and allied producers last
week.

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