LONDON, March 20 (Reuters) - Angolan state oil company
Sonangol offered a number of May-loading cargoes at weaker
levels, reflecting lower demand due to the coronavirus outbreak
and ample supply.
ANGOLA
* Angola is exporting 45 cargoes in May, up from 39 planned
in April. Sonangol has allocated 12 of them to term buyers,
three of which went to Unipec.
* Sonangol offered several spot cargoes at differentials
traders said were sharply lower than those April-loading barrels
were initially offered at, due to the weakening in the market
this month.
* Cabinda: Offered at dated Brent plus 50 cents
* CLOV: Offered at dated Brent plus $1.20
* Dalia: Offered at dated Brent minus 40 cents
* Girassol: Offered at dated Brent plus $1.50
* Olombendo: Offered at dated Brent plus $1.20
NIGERIA
* Nigeria is expected to cut its official selling prices,
which are due imminently. May loading programmes are also due
soon.
* Nigeria has 20 to 30 unsold April-loading cargoes because
of a drop in demand. Traders earlier this week put the number
close to 30.
* Qua Iboe was last heard offered at dated Brent minus 70
cents a barrel this week. That's the lowest differential in more
than a decade, according to the trader and Refinitiv Eikon data.