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W. Africa Crude-Nigerian demand weighed down by Indian refining cuts

CommoditiesMay 12, 2021 17:06
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© Reuters

LONDON, May 12 (Reuters) - Demand for Nigerian crude was
under pressure on Wednesday, following refining cuts by its main
buyer, India, due to a new extreme wave of COVID-19 cases in the
country that has hurt consumption.

* About 25 cargoes of June-loading Nigerian cargoes were
still available with little activity heard.
* Nigeria's state oil firm NNPC has picked 16 consortia for
its new crude-for-fuel swap contracts for one year starting in
August, sources with direct knowledge of the matter said.
* The list includes major Swiss trading firms Trafigura,
Vitol and Mercuria, oil major Total TOTP.PA as well as large
Nigerian traders Sahara Energy SAH.V , Oando OANDO.LG and MRS
Oil.
* Crude contracts for 2021-2023 were separately in the
process of being finalised.
* About six cargoes of June loading Angolan remained. State
firm Sonangol sold its final spot cargo, a Gimboa, to an Asian
buyer.
* Tullow sold a cargo of Ghanaian Jubilee, but buyer details
could not be confirmed. BP sold a cargo of Nigerian Girassol to
Thailand's PTT, traders said.
* China's Unipec bought a cargo of early June loading Djeno
from Total. Total was said to still have two cargoes on offer.
* Uruguay's ANCAP closed two tenders for crude, but the
winner had not yet emerged for a mid-July cargo and an early
August cargo.

W. Africa Crude-Nigerian demand weighed down by Indian refining cuts
 

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Blama Ali
Blama Ali Oct 13, 2021 12:08
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good morning
 
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