W. Africa Crude-Nigerian offers hold strong, Angolan weakening

Published 12/09/2019, 16:19
Updated 12/09/2019, 16:20
© Reuters.  W. Africa Crude-Nigerian offers hold strong, Angolan weakening

LONDON, Sept 12 (Reuters) - Nigerian crude was offered at

robust levels on Thursday as sellers hoped to benefit from

keener demand from Asia amid rising differentials for North Sea

grades.

* Nigerian Qua Iboe was offered at dated Brent plus $3.00 a

barrel, a trader said, higher than indications reported earlier

this week.

Such an offer is relatively high - Qua has not traded above

dated Brent plus $3.00 since 2014 according to Refinitiv data,

although traded values at above dated plus $2.50 this year have

been the highest since 2014.

ANGOLA

* Around 10 cargoes of Angolan oil remain available for

export in October, a higher figure than Wednesday's estimate, a

trader said.

* Differentials for remaining cargoes have been coming under

downward pressure. One trader said differentials had eased by

20-30 cents compared to last week.

* The November programme is expected to be issued early next

week.

TENDERS

* The validity for two tenders by Indonesia's Pertamina for

light crude cargoes as well as condensate for late November and

early December delivery ended on Wednesday, though the winners

did not emerge.

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