W. Africa Crude-Angolan trades, IOC takes 2 mln barrels


LONDON, Oct 5  – October loadings of crude for Asia slipped, led by a decline in Chinese buying. Sonangol sold two cargoes after lowering the differentials, but traders said Angolan differentials needed to move lower for more of the programme to clear.


* Around 25 cargoes from the November and October programmes were yet to trade, sources said.

* State oil company Sonangol sold its Dalia and Olombendo. It had been offering at dated Brent plus 15 cents and plus $1.00, respectively.

* China’s Unipec continued to offer Dalia at flat to dated Brent, but lowered its Plutonio and Nemba offers by 15 cents to a 50 cent premium and a 20 cent premium, respectively. It was also offering Saturno at dated minus 35 cents.

* It offered Congolese Djeno at a 35 cent discount to dated Brent, down from minus 20 cents on Wednesday.


* Nigerian differentials were underpinned by loading delays and relatively small export plans for November.

* There was no Bonny Light loading schedule for November, and traders said it was unlikely to be issued before Aiteo’s Nembe Creek Trunk Line pipeline returned.

* Aiteo said repairs were underway and it could be back by next week. Bonny Light remained under force majeure.


* India’s MRPL issued a tender to buy crude oil loading Nov. 15-30.

* Indian Oil Corp took a cargo of Kissange and a cargo of Agbami from Chevron in its tender to buy oil. It was not immediately clear if it took other cargoes as well. (Reporting by Libby George; Editing by Mark Potter)(Reuters)

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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.


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