LONDON, Dec 5 (Reuters) - The crew of an oil supertanker was
kidnapped off the coast of Nigeria, marking an uptick in piracy
in the region that shipbrokers and traders fear will increase
insurance premiums.
* The VLCC Nave Constellation was attacked 77 nautical miles
off Bonny Island on Tuesday and 18 Indians and one Turk from the
crew were seized. * Traders said a rash of kidnappings raised uncertainty
about shipping prices, citing concerns that insurance premiums
on West African shipments could be raised.
* Offers for both heavier and lighter West African crude
grades continued to ease slightly as the monthly trading cycle
passes its halfway point.
* Sonangol's cargo of Dalia still sought a buyer at a
premium compared to dated Brent of $3.00, while Nigerian light
cargoes sold briskly with a cargo of Bonny Light sold just below
$3.50.
* At least a dozen cargoes of Angolan crude were still
available from the January programme, in relatively swift
trading ahead of new global shipping rules.
* Uruguay's ANCAP has two tenders running for a cargo of
crude each closing this week.
RELATED NEWS
* Angolan oil company Sonangol has terminated a contract
with Hong Kong-based consortium United Shine to build the
Cabinda Refinery but plans to go ahead with other investors.
* Angola plans to raise its oil production from 1.39 million
barrels per day (bpd) to 1.44 million bpd in 2020, the petroleum
minister said. * Sources told Reuters that OPEC was seeking to increase
production cuts by the group and its allies by Russia by more
than 400,000 barrels per day (bpd) from their current level of
1.2 million bpd.