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

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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.

ANGOLA

* 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.

NIGERIA

* 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.

TENDERS

* 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 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).

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