W. Africa Crude-Diffs remain firm, tenders dominate

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LONDON, May 24 (Reuters) – Differentials remained firm due to several Nigerian outages on Friday, while a lack of heavy crude as a result of U.S. sanctions on Iranian and Venezuelan exports continued to boost Angolan oil.

* About 10 June-loading cargoes of Nigerian crude were still available after BP was said to have sold a cargo of Forcados, traders said, but further details did not emerge.

* The Forcados, Bonny Light and Amenam streams have been exporting at reduced capacity due to various pipeline outages.

* Angola’s state firm Sonangol continued to offer a cargo of Mostarda at dated Brent plus $1.20 a barrel.

* Angolan Girassol was offered this week at around dated Brent plus $2.50, a trader said.

* Indonesia’s Pertamina issued a new tender mainly for west African crudes cargoes for July 15-31 and Aug. 1-18 delivery. The tender closes May 28 and remains valid until May 31.

* It was not immediately clear who won Pertamina’s previous tender for July 1-15 delivery that closed on Wednesday.

* Taiwan’s CPC awarded its buy tender and was said to have taken a cargo of Angolan crude but further details were slow to emerge.
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* Russia plans to take back around 1 million tonnes of contaminated oil from Belarus, cleaning up the Druzhba export pipeline section leading to Poland and Germany, four industry sources familiar with the plan told Reuters.

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Joseph Afam (Local Contents and Partnership Editor) (070 3949 0464) Joseph Afam is a energy and finance journalist, who has years of experience in journalism, he started his journalism career in Nigeria’s top financial newspaper in Lagos. He’s a graduate of Economics and Finance from University of Ebonyi State, Nigeria He has won series of awards and regconitions Contact him for any editorial deals and advertorial issues on # Joseph.Afam@naija247news.com, editor@naija247news.com, Cell: 070 3949 0464

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