W. Africa Crude-Angolan preliminary programme shows slight export drop


LONDON, Aug 19 – Angola released a complete preliminary programme for October exports on Monday, with traders expecting rising demand on favourable margins and looming new rules governing cleaner marine fuels.

* Angola is set to export 42 cargoes in October, down from 44 initially planned for September as traders received updated preliminary programmes.

* Glencore was heard to have sold its cargo of Dalia — one of the last to remain for export in September — to a Chinese independent refinery for around a premium of $2 compared to dated Brent.

* Four cargoes of the grade considered ideal for refining into shipping fuels compliant with new rules set to be implemented on Jan. 1, will be exported in October, a relatively small number.

* Traders said offerings for Dalia would likely begin around $2.30 – $2.50 above dated Brent, as demand for it and other heavy sweet grades mounts.

* Around 25 cargoes of Nigerian crude remain for September loading.

* European gasoline refining margins fell sharply on Monday to $9.3 a barrel, their lowest since late June, likely providing another drag on demand for Nigerian crude.

* Nigerian state oil company NNPC said on Sunday that 15 companies had won the right to swap the nation’s crude oil for fuels following a tender for the deals, dubbed Direct Sale Direct Purchase (DSDP).


* Oil production at Libya’s Sharara oilfield, the OPEC member’s largest, has reached around 295,000 barrels per day, near levels before it closed briefly last month, a source said on Monday.

* China National Petroleum Corp, a leading buyer of Venezuelan oil, has halted August loadings following the latest set of U.S. sanctions on the South American exporter, two Beijing-based senior sources said.

Reporting by Noah Browning Editing by David Goodman and Pritha Sarkar


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