LONDON, Aug 8 (Reuters) - Nigerian crude for loading in
August was finally on the cusp of clearing after the most
persistent oversupply in 2019, as sellers hope prices can now
rise for barrels loading later.
ANGOLA
* Chinese crude imports in July reached 9.66 million barrels
per day, a 14% increase on the year as margins have improved for
middle distillates like diesel. * Both independent and state-run refineries owned by Hengli
Petrochemical Ltd and Sinopec ended their summer maintenance,
driving up capacity.
* Only a few Angolan cargoes remain for loading in
September, traders said, in one of the fastest trading months of
this year.
* Angola displaced Russia and Brazil to become the top
supplier of Chinese independent refineries in July, S&P Global
Platts said this week, up nearly 20% on the month and 90 percent
on the year.
* Price offerings for the remaining handful of cargoes of
were heard to have slipped around 30 cents from last week.
NIGERIA
* Africa's largest oil refinery will not be finished until
the end of 2020 due to problems importing steel and other
equipment, said executives at Dangote, which is building the
facility in the Nigerian commercial hub of Lagos. * Fewer than 10 remain for loading in August.
* Prompt loading cargoes for Qua Iboe and Bonny Light have
sold in recent days for just under a premium of $2 compared to
dated Brent.
* Price differentials have suffered due to ever-increasing
imports of light sweet crude from the United States from
traditional markets, especially in Europe this month.
TENDERS
* India's IOC issued a tender for a cargo for loading on
October 1-10 which closed on Wednesday, though the winner did
not emerge.
* Uruguay's ANCAP issued a tender for crude discharging on
October 8-12 also closing on Wednesday, with the winner unknown.