W. Africa Crude-New Mostarda stream added to revised Angolan programme for June

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LONDON, April 26 (Reuters) – New cargoes were added to Angola’s preliminary June programme, which was the smallest in over a decade due to maintenance issues. The Mostarda grade comes from the newly operational Kaombo Sul offshore field.

* Three cargoes of Mostarda were heard to have been added to Angola’s preliminary June programme, two for Total and one for China’s Unipec.

* U.S. sanctions on Iran and Venezuela have helped push up demand for medium-heavy crude grades that are well-suited to be refined into middle distillates.

* Some buyers are still reluctant to meet high offers despite the gap in the market, as uncertainty lingers over Iranian flows while market structure also remains unsupportive.

* Less than 20 cargoes of Nigerian crude remain for May loading, as high offers for main grades have come down amid abundant global supply of light sweet grades.

* Nigeria’s NNPC said it hopes to double its oil output to 4 million barrels per day and triple its refining capacity to 1.5 (bpd) by 2025.
TENDERS

* India’s IOC issued a tender for one cargo loading June 4-13.

RELATED NEWS

* Oil prices fell on Friday as the market retreated from its strongest bull run in at least a year amid efforts to resume Russian oil flows that were interrupted by contamination.

* Nigeria and Saudi Arabia plan to draft a memorandum of understanding on an oil and gas partnership that could lead to the construction of a new refinery and investments in liquefied natural gas, Nigeria’s petroleum ministry said on Friday.

* Two cargoes of U.S. crude oil have been booked to sail to Australia, trade sources and data companies said, highlighting the increasing global reach of exports from the United States.

Reporting by Noah Browning Editing by Mark Heinrich

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