Weaker Chinese crude buying weighs on Angolan

0
802

LONDON, April 4  – Angolan cargoes were offered steady on Tuesday although buying interest for heavier grades remained lacklustre, suggesting levels may need to drop further.

ANGOLA

* State oil company Sonangol was offering Saxi at dated Brent parity, Saturno at dated Brent minus 30 cents and Dalia at dated minus 20 cents, in line with the last price indications reported on Friday.

One potential buyer saw those offers as on the high side given softer demand this month from big Chinese buyers.

NIGERIA

* Nigerian Qua Iboe was offered at dated Brent plus $1.00, in line with indications heard on Monday. Traders were awaiting the result of buying tenders this week which are expected to absorb Nigerian cargoes.

TENDER

* Indian Oil Corp. is running a buy tender for cargoes loading June 1-10. The result is expected on Friday and end-May cargoes would also be accepted.

* Indonesia’s Pertamina issued a tender to buy crude for June delivery, including Bonny Light, Escravos Qua lboe or Forcados. The tender closed on Tuesday.

 

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.