W. Africa Crude-Grades steady but some offers seen as high

FILE - In this Monday, Dec. 26, 2011 file photo, Shell Bonga offshore oil Floating Production Storage and Offloading vessel off the coast of the Niger Delta in Nigeria. Shell closed the terminal exporting Nigeria's benchmark Bonny Light crude oil on Wednesday May 11, 2016 and was evacuating workers from a threatened oil field as renewed militant attacks cut production in Africa's biggest petroleum producer, the company and a union leader said. (AP Photo/Sunday Alamba, file)

LONDON, Sept 12 (Reuters) – West African crude differentials were steady on Tuesday although offers for some grades such as Nigerian Forcados were seen by buyers as too high amid plentiful supply.


* Eight cargoes are still available from the October schedule, one trader said, compared with eight to nine on Monday. The November programme is expected to be released in coming days.

* Cabinda was offered at dated Brent plus $1.10, unchanged from price talks last week.

* There are at least 20 October-loading cargoes still available.

* Qua Iboe was offered at dated Brent plus $1.75 a barrel, the higher end of price talks heard on Monday, with value pegged closer to dated plus $1.40.

* Forcados was offered at dated Brent plus $2.00 although a trader said eight cargoes of this grade were available, making that offer too high.

* Indian refiner BPCL is looking for West African grades in a tender it is running this week. The tender closes on Friday. (Reporting by Alex Lawler; editing by David Clarke)

Previous articleApple Unveils IPhone X With New Display as Rivals Grow
Next articleNigerian stock index down 0.75%, as Cadbury, AIICO, Nestle shed weight
Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).


Please enter your comment!
Please enter your name here

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