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W. Africa Crude-Angolan offers trimmed, tenders in focus

CommoditiesOct 12, 2017 21:40
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© Reuters. W. Africa Crude-Angolan offers trimmed, tenders in focus

LONDON, Oct 12 (Reuters) - Angolan crude was offered at lower levels on Thursday amid a lull in Chinese demand, while several Asian buying tenders remained in focus with Total said to have been awarded one.

ANGOLA

* Pazflor was being offered at dated Brent parity by Exxon (NYSE:XOM), down from dated plus 25 cents on Wednesday.

* Girassol was on offer at dated Brent plus 80 cents, down from dated plus $1.10 on Wednesday.

* Cargoes are steadily finding homes. About 12 cargoes for November loading were thought to be available, down from an estimate of 15 on Wednesday. The December loading programme is due to come out next week.

NIGERIA

* Nigerian crude has found support from relatively small loading programmes for some grades and shipment delays. One cargo of Qua Iboe was heard to have been pushed into December.

* There was still no sign of Bonny Light programme for November and force majeure was still in place.

TENDERS

* Indian Oil (NS:IOC) Corp. is running two tenders this week, one for December-loading west African crude and another for U.S. crude.

* Total was heard to have won the West African tender, although further details were not available.

* Another Indian refiner, BPCL, is running a tender to buy prompt West African crude closing next week and a third, MRPL, is running a tender for crude loading in the second half of November.

* Indonesia's Pertamina is seeking December-delivery crude.

W. Africa Crude-Angolan offers trimmed, tenders in focus
 

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