LONDON, Dec 19 (Reuters) - Trading remained slow on Thursday
as tender results were expected at the end of the week and
February export programmes for minor Nigerian programmes began
to emerge.
* Nigeria's NNPC sharply raised January official selling
prices (OSPs) for Bonny Light to dated Brent plus 251 cents from
plus 128 cents in January, and Qua Iboe crude oil to plus 266
cents from 150 cents per barrel last month.
* The increase reflects higher selling prices for some light
sweet and heavy sweet Nigerian grades driven by demand for
low-sulphur fuel oil and relatively high competing local grades.
* Despite the near-record prices fetched for some varieties,
a glut of around 20 Nigerian cargoes remains to be sold for
February as buyers hold out for discounts.
* One potential European buyer said "freight costs,
differentials and market structure are untenable situations.
Margins are in the negative."
* Programmes for the Agbami and Akpo crude streams emerged,
but those for key grades remained elusive.
* The last handful of Angolan cargoes remains to be exported
for January after February programmes emerged on Tuesday.
* Freight rates have inched up and dissuaded buying,
especially to East Asia where distillate margins have lagged and
put off some buying of heavier grades.
TENDERS
* India's HPCL issued a tender for crude loading Feb. 1-10,
with results expected on Friday.
* Taiwan's CPC also closed a tender to buy crude, with
results expected to emerge by Friday.