Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

W. Africa Crude-September Angolan programme holds exports steady

Published 16/07/2019, 17:57
© Reuters.  W. Africa Crude-September Angolan programme holds exports steady

LONDON, July 16 (Reuters) - Angola's preliminary export
programme for September emerged on Tuesday, indicating the
number of cargoes would match those originally planned for last
month at 45.

ANGOLA
* A cargo from the offshore Saturno stream was expected to
be among the September exports after it was delayed then
deferred past August due to an outage.
* Industry sources attributed the shutdown to maintenance
and said it went back online over the weekend.
* Only a small handful of August loading cargoes remained as
Asian margins and freight rates improved while Chinese refiners
sought to meet quotas.
* Although it was an improvement on the July loading period
in which Chinese buying was significantly down, it marks only
the second overhang for Angolan oil in 2019.

NIGERIA
* Nigerian state oil firm NNPC issued award letters on
Monday for contracts to exchange crude oil for imported fuel
2019 -- known as Direct Sale and Direct Purchase (DSDP).
* The contracts are for one year, involve 15 groupings with
at least 34 companies in total, and are expected to start with
October-loading cargoes.
* July-loading cargoes were heard to have likely cleared,
while a normal overhang of around two dozen cargoes loading in
August was expected as preliminary programmes for September are
expected in the coming days.
* Genscape reported on Friday that the 85,000 bpd CDU and
41,000 bpd VDU in the Point Breeze section of the refinery are
back online. * Traders and Refinitiv Eikon ship tracking data indicate
that there has been no large scale diversion of West African
crude cargoes away from the Philadelphia PES refinery, a
consistent buyer of WAF grades.

TENDERS
* Indonesia's Pertamina issued a tender for one cargo per
month for October-December delivery set to close on Monday.
* Astron Energy in South Africa has issued a tender for a
West African grade closing today, though no details emerged.

RELATED NEWS
* Ten Turkish sailors were taken hostage by armed pirates
who attacked a Turkish-flagged cargo ship off the coast of
Nigeria, the vessel's owner said on Tuesday, adding that another
eight sailors were left safely aboard. * Refineries in Taiwan and South Korea are testing the
market for fuels that meet new rules for low-sulphur ship fuel
starting next year, exporting some cargoes of very low-sulphur
fuel oil (VLSFO) this month.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.