W. Africa Crude-Nigerian programmes begin to emerge

Published 22/10/2020, 16:05
© Reuters.

LONDON, Oct 22 (Reuters) - Nigeria's December loading
programmes began to emerge on Thursday, while Angolan
differentials firmed as a short programme to comply with OPEC+
cuts coincided with a fresh jump in Chinese buying.

ANGOLA
* Angola's state oil firm allocated two more cargoes to
China's Sinochem, an Olombendo and a Hungo. The cargoes had
previously been offered on a spot basis, traders said.
* Sonangol was still offering a cargo of Dalia at dated
Brent plus 80 cents a barrel, up 40 cents from its offer level
earlier in the week.

NIGERIA
* The Qua Iboe stream will have six cargoes in December, in
line with November, at 184,000 barrels per day. There will also
be one cargo of Usan, two Erha and two Yoho, one of which is of
300,000 barrels.
* Escravos and Agbami grades will have four cargoes of
950,000 barrels each.
* There was still no sign of official selling prices.

RELATED NEWS
* Gunshots rang out and smoke rose from at least two fires
in Nigeria's commercial capital Lagos on Thursday as authorities
struggled to enforce a curfew imposed to contain anger over a
crackdown on anti-police protesters. * Some Chinese private refiners have snapped up millions of
barrels of crude oil for delivery around December-end and
January as they replenish stocks ahead of the release of 2021
imports quotas, oil traders said on Thursday.

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