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 Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

Leave a Reply

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