W. Africa Crude-Nigerian Qua, Bonny at 2013 high on solid demand

Published 15/11/2019, 18:00
© Reuters.  W. Africa Crude-Nigerian Qua, Bonny at 2013 high on solid demand

LONDON, Nov 15 (Reuters) - Niegrian crude remained at strong

levels on Friday, with some grades like Qua Iboe having sold at

multi-year high premiums to dated Brent due to strong demand.

NIGERIA

* High differentials for comparable North Sea and

Mediterranean grades have supported Nigerian barrels, and

traders said demand from Europe has been robust.

* Exxon was heard to have sold its last Qua Iboe cargo which

was offered in excess of dated Brent plus $4.00 a barrel. Qua

has not been valued at a premium of $4 since 2013.

* About 25-30 Nigerian cargoes are available for sale, not

seen as an excessive volume given that they increasingly linger

until programmes for comparable Mediterranean and North Sea

grades emerge.

* Bonny Light was last being offered at $3.50 above dated

Brent and is assessed at its highest differential since 2013.

ANGOLA

* About six cargoes for December loading are still unsold.

* January's loading schedule is expected imminently.

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