LONDON, Feb 12 (Reuters) - Congolese Djeno began to clear
amid sharply reduced offers as trading stayed quiet due to the
virus outbreak in China and buyers' hopes for interest elsewhere
in Asia fizzled.
* China's Unipec and Angola's Sonangol were still seeking
buyers for a handful of Angolan cargoes for March export as new
programmes were set to emerge early next week.
* The cargo of Angolan Pazflor crude Unipec sold this week
is bound for a U.S. buyer.
* Spain's Repsol purchased a cargo of Congolese Djeno
offered by Perenco this week, and only a few cargoes of the
once-prized grade are still on offer, with recent sale prices
estimated at the low price of dated Brent minus $0.50-1.00.
* As Chinese buying has largely stopped, traders viewed
Europe as the likely outlet for the relative glut of both heavy
and light oil from West Africa.
* Traders initially pinned hopes on India and Indonesia as
the China coronavirus erupted but some now believe their buying
for March-loading cargoes is largely complete.
* Asia's market for very low-sulphur fuel oil has retreated
from record highs early last month, as demand crumbles under
seasonal factors while supply expectations improve. * India's IOC issued a buy tender for crude loading April
11-20, but results did not immediately emerge.
* Indonesia's Pertamina issued a buy tender for crude
cargoes for May 1-3 delivery. The tender closes on Wednesday
with bids valid until Friday.
RELATED NEWS
* OPEC cut its forecast for global growth in oil demand this
year due to the virus and said output fell sharply in January as
producers implemented a new supply-limiting pact. * The world's top oil exporter Saudi Arabia has reduced
crude supplies to some Asian buyers in March after refiners cut
output following the outbreak and for regular maintenance,
sources said.