LONDON, Oct 13 (Reuters) - Offer levels for the last few
cargoes of Angolan crude for export in November were largely
scarce amid low sale prices, while tenders provided some hope
for languishing Nigerian supply.
ANGOLA
* Traders said Angolan cargoes for November export stood as
few as four and as many as eight.
* A relatively small slate of spot cargoes from state oil
firm Sonangol sold quickly in the trading cycle, leading to less
transparency than usual about offers for remaining cargoes.
* Export programmes for December were expected by Friday.
* Chinese buying has yet to rebound amid the global
coronavirus pandemic but traders say easing port traffic there
offers some hope for West African oil sales.
* The three cargoes from the Dalia stream were sold out for
November, with sale prices at around dated Brent flat.
NIGERIA
* India's IOC awarded a buy tender to Equinor with a cargo
of Nigerian Forcados for export in early to mid-November.
* IOC is running another tender closing on Thursday for
crude for late December to early January arrival.
* The winner of a buy tender from South Africa's Sasol did
not immediately emerge, though they often go to Nigerian grades.
* Months of delays continue on the Erha stream, with an
August cargo delayed to September and one for October delayed to
November for reasons which remain unclear.
* The end of a Norwegian oil strike and the resumption of
Libyan supply is squeezing Nigerian crude in Europe, but some
demand remains as cargoes continue to be offer at prices near
pandemic-lows achieved in May.
RELATED NEWS
* Eni has filed a request for arbitration against Nigeria at
the World Bank's dispute settlement body and plans to argue that
the country's failure to allow it to exploit an oilfield it
acquired with Royal Dutch Shell nearly a decade ago breaches
their investment agreement, court documents show. * India is "treading very cautiously" in its plan to
privatise state-run oil refiner Bharat Petroleum Corp Ltd, Oil
Minister Dharmendra Pradhan said on Tuesday, in a sign that the
process could be delayed.