W. Africa Crude-Nigerian offer levels underpinned by Libya outage

Published 29/01/2020, 18:01
© Reuters.  W. Africa Crude-Nigerian offer levels underpinned by Libya outage

LONDON, Jan 29 (Reuters) - Buyers remained on the sidelines

on Wednesday as sellers kept offer levels high on the back of

the ongoing shutdown of most of Libya's production.

* The spread of the coronavirus weighed on demand as a

growing number of global airlines cancelled flights to China.

* Shell, which operates Bonny Light exports, has not yet

lifted force majeure, sources said, following the restart of a

key pipeline.

* About 20 March-loading Angolan cargoes are still unsold, a

trader said.

* Nigerian grades were offered at high levels with Qua Iboe

at dated Brent plus $3.00, Erha and Bonga at dated Brent plus

$3.40, Bonny Light at dated Brent plus $3.70 and Brass at plus

$3.10.

TENDERS

* India's HPCL issued a buy tender for crude cargoes loading

March 10-20. The tender bids remain valid until Jan. 31.

* Indonesia's Pertamina issued a buy tender for crude for

April 15-17 or 8-10 delivery depending on the port. Bids are due

by Jan. 30 and remain valid until Feb. 3.

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