LONDON, Sept 18 (Reuters) - Nigerian crude loading
programmes for November started to emerge on Friday and a glut
of unsold cargoes for earlier loading dates was weighing on
differentials.
NIGERIA
* November loading programmes were being issued on Friday.
The Qua stream will load six cargoes, steady from October, a
trader said. * An overhang of unsold October and September cargoes has
been weighing on the market. One trader put the overhang at less
than 30 cargoes, still a sizeable volume as the new month's
programmes began to appear.
* Nigeria issued its official selling prices for October
crude, reducing the prices of Bonny Light and Qua Iboe to
discounts to dated Brent. * Qua Iboe: Valued at a discount to dated Brent. The grade
was last offered at dated Brent parity, a trader said, putting
the value at below the benchmark.
* Forcados: An October-loading cargo was being shown at
dated Brent plus 40 cents, which a trader noted was some way
above the official selling price.
ANGOLA
* State oil company Sonangol was thought likely to finalise
its November cargo allocations for term customers early next
week, a trader said.
* Angola plans to export 37 cargoes in November, less than
October, as the country plans to rein in output to compensate
for overproduction beyond OPEC limits.
* Around five spot cargoes for export in October were still
unsold.