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W. Africa Crude-Nigerian clears via tenders, diffs firm

Published 28/10/2020, 18:02
© Reuters.

LONDON, Oct 28 (Reuters) - Nigerian differentials firmed on
the back of a flurry of tenders and spot activity on Wednesday
but traders expect prices to drop on a new wave of lockdowns in
Europe and rising Libyan production.

* Around a dozen cargoes of December loading Angolan crude
were still available.
* Exxon Mobil bought a cargo of Nigerian Egina from CNOOC,
traders said. The deal level was said to have been done at
around dated Brent plus $1 a barrel or as high as dated Brent
plus $1.30 a barrel.
* Vitol was said to have bought a cargo of end-November
loading Nigerian Bonga from Shell at around dated Brent plus
40-50 cents.
* Perenco issued a sell tender for a cargo of Congolese
Djeno crude loading Dec. 23-24. The tender closes Oct. 30.
* India's IOC awarded a buy tender for Dec. 11-20 loading
crude to Total, Chevron and Vitol, traders said.
* Turkey's Tupras took a cargo of Nigerian Bonny Light in
its latest tender for Nov. 25-Dec. 15 delivery from Total,
traders said.

RELATED NEWS
* U.S. crude oil stockpiles rose last week as production
surged in a record build, while gasoline and distillate
inventories fell, the Energy Information Administration said on
Wednesday.

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