W. Africa Crude-Traders await flurry of tender results

Published 15/12/2020, 17:43
© Reuters.

LONDON, Dec 15 (Reuters) - The West African oil market
awaited another busy round of buy tenders this week, as Angolan
supplies dwindle ahead of a new slate of export plans due to be
released imminently.

* The provisional Angolan export plan for February is likely
to be released on Thursday, traders said.
* Only 2-3 sport cargoes were still on offer for export in
January.
* Indian Oil Corp issued two tenders for west African crude
loading Jan. 29 to Feb. 7 and Feb. 13-22. Both tenders close on
Dec. 17.
* Uruguay's ANCAP issued a buy tender for 1 million barrel
crude cargo for Feb. 10-14 delivery. The tender closes on
Tuesday but the results were not immediately forthcoming.
* Indonesia's Pertamina issued several tenders for crude
cargoes closing on Wednesday for which West African oil is
eligible: two for arrival in the beginning of February and the
beginning of March and the third for arrival between Feb. 9-13.
* Rongsheng Petrochemical, the trading arm of Chinese
private refiner Zhejiang Petrochemical, issued a buy tender.
* Thailand's PTT refinery issued a buy tender for
late-February to early-March arrival, which closed on Tuesday,
although results were not immediately forthcoming.
* Traders reported loading delays to shipments from
Nigeria's Jones Creek stream, though the cause was unclear.

RELATED NEWS
* The roll-out of vaccines this month to combat the COVID-19
pandemic will not quickly reverse the destruction wrought on
global oil demand, the International Energy Agency (IEA) warned
on Tuesday. * Inadequate investment in exploration and new drilling may
leave the world without enough oil in 20 to 30 years despite a
shift towards renewable power sources, top energy analysts say.

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