W. Africa Crude-Spot market quietens after week of intense trade

Published 07/08/2020, 16:48
Updated 07/08/2020, 16:54
© Reuters.
BP
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LONDON, Aug 7 (Reuters) - Only one spot cargo was heard to
have moved on Friday after a week of swift trading, while more
details emerged on the latest Indian tender.

* A handful of September loading Angolan cargoes remained,
mostly with BP .
* BP lowered its offers on four Angolan cargoes by 40-50
cents. The major was showing Saxi at dated Brent plus $1.00,
Mostarda at dated Brent plus 50 cents, Girassol at plus $1.60
and Dalia at plus $1.10.
* The levels for the latter two cargoes were seen as quite a
bit higher than recent deals for those grades but they are
loading in late September.
* BP was also said to have a cargo of Angolan Plutonio.
* Total sold a cargo of Angolan Pazflor, a trader said, but
buyer details did not immediately emerge.
* India's IOC closed a buy tender for cargoes loading Oct.
1-10, awarding it to Chevron and Shell. Traders said IOC took
Nigerian crude: a cargo of Agbami from Chevron and two cargoes
of Bonny Light and a cargo of Brass River from Shell.
* South Africa's Sasol closed a buy tender for a cargo for
second half September arrival. Winner details did not
immediately emerge.

RELATED NEWS
* BP BP.L is preparing to sell a large chunk of its oil
and gas assets even if crude prices bounce back from the
COVID-19 crash because it wants to invest more in renewable
energy, three sources familiar with BP's thinking said.

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