W. Africa Crude-Bonga loadings delayed, Nigerian overhang slow to clear

Date:

LONDON, June 14 – Trade was thin on Wednesday, with traders eyeing a few tenders, while an oversupply of alternatives to Nigeria’s light, sweet grades continued to weigh.

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* Around 10-15 June loading cargoes of Nigerian crude were left with plenty available in July.

* Nigeria has recouped its title of biggest African crude exporter with Angola back at number two. Its July schedule is at 1.84 million barrels per day, slightly higher than the revised June programme that added Forcados.

* Traders said loadings at Nigeria’s offshore Bonga platform were delayed by about 10 days. Delays for Bonny Light were around 10 days due to one pipeline being shut down.

* Meanwhile, Angola’s July programme has been almost all placed. About four or five cargoes were still available, including two CLOV with Vitol and Shell and a cargo of Saturno.

* Angola’s August loading programme is expected to emerge by Friday.

TENDERS

* India’s IOC tender is due to close on Thursday.

* Results from Indian MRPL’s tender are expected on Thursday. (Reporting by Julia Payne; Editing by Mark Potter) ))

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