W. Africa Crude-Spot trade thin as programmes, allocations awaited

Published 19/11/2019, 18:59
© Reuters. W. Africa Crude-Spot trade thin as programmes, allocations awaited

LONDON, Nov 19 (Reuters) - Spot trade was thin on Tuesday as

traders waited for Nigerian loading programmes and Angolan

allocations while sellers eyed two Indian tenders.

* Nigeria's Nembe Creek oil trunk pipeline that moves Bonny

Light crude has been shut due to sabotage, a spokesman for

operator Aiteo said on Tuesday. * Bonny is transported to its export terminal by two

pipelines. The other is operational.

* Nigeria's official selling prices were expected to emerge

on Thursday, with January loading programmes following soon.

* Around 20 Nigerian cargoes were still available from the

December programme.

* Around six cargoes of Angolan crude remained from the

December programme.

* Angolan state firm Sonangol has not yet announced term

allocations for the January programme.

TENDERS

* India's IOC issued two tenders. One is for crude loading

in the last 10 days of January and the other for cargoes loading

at the end of December. Both tenders close on Thursday with

results due on Friday.

RELATED NEWS

* Northwest European oil refining margins turned negative on

Tuesday, falling to around -$0.49 a barrel, Reuters calculations

showed. A sharp fall in gasoline and fuel oil margins in recent

days precipitated the fall, traders said. * OPEC's share of India's oil imports fell to 73% in

October, its lowest monthly share since at least 2011, tanker

data from sources showed, as refiners shipped in fuel from the

United States and other suppliers.

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