W. Africa Crude-Flurry of Angolan on offer, IOC issues tender


LONDON, Nov 4 (Reuters) – Many spot Angolan cargoes were on
offer on Monday while Nigerian activity remained subdued though
differentials have risen since last month.

* Just under 20 Angolan cargoes remained from the December
programme with close to half of those with Total.
* The final Angolan loading programme for December was set
at 45 cargoes with an additional two partial cargoes of Palanca
and Gimboa and Plutonio to be kept by Angola’s state firm
* Sonangol was still said to be offering a cargo of Gimboa
at around dated Brent plus $2.00 and sold its cargoes of Mondo
and Pazflor.
* Chevron was offering an end-December cargo of Cabinda at
around dated Brent plus $2.00.
* Girassol was being offered as high as dated Brent plus
$2.90 a barrel.
* Nigerian spot activity was slow though offer levels on key
grades such as Bonny Light have rebounded to levels they were at
before sanctions were imposed on COSCO subsidiaries.
* Freight rates soared after the United States placed
sanctions on subsidiaries of Chinese shipping firm COSCO at the
end of September.

* India’s IOC issued a buy tender closing on Nov. 7 for west
African crude loading Jan. 1-10.

* Oil trader Vitol has quit a consortium that was set to buy
a stake in two Nigerian oil fields from Brazil’s Petrobras
, its former partner said on Friday.
* Saudi Aramco’s blockbuster listing remained shrouded in
mystery on Monday, a day after the company announced its plans,
with scant details disclosed and expert valuations varying
wildly from around $1.2 trillion to $2.3 trillion.

(Reporting By Julia Payne; Editing by Edmund Blair)

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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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