W. Africa Crude-Qua, Bonny underpinned by delays, U.S. demand

Date:

LONDON, April 27  – Differentials for key Nigerian grade Bonny Light and Qua Iboe firmed on the back of ongoing loading delays for Qua and greater demand from the United States.

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* Nigeria’s upper house of parliament aims to pass the country’s long delayed oil reform bill before the end of the year, Senate Committee Chairman on Petroleum Upstream, Tayo Alasoadura said on Thursday.

ANGOLA

* Unipec bought a cargo of June-loading Girassol from BP but price details did not emerge. The cargo was earlier offered at dated Brent plus 30 cents a barrel but was said to have sold below that level.

* ExxonMobil sold a cargo of Hungo but the buyer did not emerge.

* Chevron offered a cargo of June loading Cabinda at dated Brent minus 10 cents a barrel.

NIGERIA

* ExxonMobil sold two end-June cargoes of Qua Iboe at just under dated Brent plus $1.40, an offer level from earlier this week. Buyer details did not emerge.

* Bonny Light was pegged at around dated Brent plus $1.00.

TENDERS

* Indian BPCL’s tender was awarded to Vitol for a cargo of Agbami and Total for a cargo of Qua Iboe, two traders said. Both cargoes are loading end May, one added.

* India’s HPCL is due to close and release results of its latest tender on Friday.

* Indonesia’s Pertamina closed a tender for the second half of 2017 but the results will not be released until next week.

* Taiwan’s CPC tender for June loading cargoes closed on Wednesday but winner details had not yet emerged.

 

Peter Okafor
Peter Okaforhttp://Naija247news.com
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