W. Africa Crude-Dalia offered higher, Sonangol offers steady


LONDON, Aug 24 – Angolan crude differentials remained supported by healthy refining margins, traders said on Thursday, and sellers were raising asking prices for some grades.

Glencore was thought to have won the latest buying tender being run by Indian Oil Corp.


* Differentials achieved by Angolan crude cargoes for October loading have been strong so far.

* Total was offering a cargo of Dalia at dated plus 25 cents, a strong level for the grade which is 10 cents higher than an offer heard earlier this week.

* State oil company Sonangol continued to offer two October-loading cargoes on Thursday, a Gimboa at dated Brent plus 30 cents and a cargo of Saturno at dated Brent plus 15 cents.


* The October loading programmes for most grades point to exports of about 1.72 million barrels per day (bpd), compared with 1.88 million bpd in September.


* Early indications from traders were that Glencore had won IOC’s tender to buy West African crude loading in October.

* Another Indian refiner, BPCL, is running a tender for October-loading crude in which offers need to remain valid until Aug. 30, according to a tender document.


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