W. Africa Crude-Brisk spot trade on strong diesel margins


LONDON, Nov 9 – Some spot cargoes changed hands on Friday as strong diesel margins buoyed demand that had been weighed down by high freight rates and weaker Asian buying.

* Eni sold cargoes of Angolan Olombendo loading Dec. 7-8, traders said, to Israel’s Paz. Eni also sold a cargo of Congolese N’Kossa.

* Vitol was said to have sold a cargo of Erha loading Dec. 5-6.

* ExxonMobil sold a cargo of Bonga loading Dec. 9-10, traders said.

* About eight Angolan cargoes and 35 Nigerian were left from the December programmes.

* Oando was still offering a cargo of Bonny Light, and ExxonMobil a cargo of Qua Iboe. The last levels were said to be dated Brent plus $1.75 a barrel.

* BP was offering Angolan Kissanje, Pazflor and Plutonio.

* Vitol was said to have won Uruguyan ANCAP’s latest tender with a cargo of Qua Iboe.

* Indonesia’s Pertamina re-issued a tender to buy Dec. 1-15 loading west African crude. The tender is valid until Nov. 12.

* India’s IOC has a tender running for Jan. 1-15 loading crude. The tender remains valid until Nov. 13.

* Turkey’s Tupras closed a tender to buy west African crude for Dec. 25 to Jan. 10 delivery. Winner details did not immediately emerge. (Reporting by Julia Payne and Mark Potter) ))

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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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