W. Africa Crude-Traders wait for flurry of tender results

Published 04/12/2019, 18:30
Updated 04/12/2019, 18:36
© Reuters.
BP
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LONDON, Dec 4 (Reuters) - Spot trade was slow on Wednesday

as sellers awaited the results of several tenders while buyers

held out for lower offers on Angolan crude.

* Angola's state oil firm Sonangol was still offering a

January loading cargo of Dalia below dated Brent plus $3.00.

* Just over 15 cargoes of Angolan crude were still available

from the January programme.

* Girassol was said to be sold out after being offered

around dated Brent plus $3.00.

* Cabinda was being shown at dated Brent plus $3.50. No

cargoes had yet traded as buyers were shying away from the grade

due to old issues relating to high water content, one trader

said.

* BP BP.L was said to have sold a cargo of Nigerian Bonny

Light to Asia loading around Jan. 18.

TENDERS

* Indonesia's Pertamina closed a buy tender for Feb. 8-12

and Feb. 13-22 delivery but wider details did not immediately

emerge.

* India's IOC has two buy tenders running for crude loading

Jan. 27 to Feb. 5 and Feb. 1-10 with results expected on

Thursday.

* Uruguay's ANCAP has two tenders running for a cargo of

crude each closing this week.

RELATED NEWS

* OPEC is gearing up to deepen oil supply cuts later this

week but still needs to strike an agreement with allies such as

Russia on details of a deal to support prices and prevent a glut

next year.

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