W. Africa Crude-Sasol issues buy tender, spot activity muted


LONDON, Jan 3 – Activity was focussed on a handful of small tenders on Thursday with sellers staying on the sidelines as demand has yet to resurface following the holiday period.

* Chinese demand has been weaker for the latest month’s cargoes and inventories are high, traders said.

* State oil firm Sonangol was still offering two cargoes of Dalia at dated Brent minus 30 cents a barrel loading Feb. 17-18 and Feb. 23-24.

* Nigerian oil marketing firm MRS awarded its sell tender for a cargo of Forcados loading Feb. 14-15 and a cargo of Amenam loading Feb. 10-11 but winner details did not immediately emerges

* South Africa’s Sasol issued a buy tender for a cargo of west African crude loading mid to end-February.

* Glencore won a buy tender by Astron Energy, its oil refinery in South Africa, with a cargo of Nigerian Okwuibome for early March arrival.

* High-sulphur fuel oil (HSFO) volumes traded in S&P Global Platts’ Singapore price assessment process nearly halved in 2018 from the previous year, signs of a market shift ahead of tougher global marine fuel rules coming in 2020. (Reporting By Julia Payne; Editing by 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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