W. Africa Crude-Qua Iboe and Erha supported, Indian IOC issues tender


LONDON Feb 3 (Naija247news) – * Angolan President Jose Eduardo dos Santos confirmed on Friday he will not run in this year’s presidential election, calling an end to 38 years as head of state, but he will retain control of the powerful ruling party.

* Nigeria’s state oil company received 128 bids from companies that want to exchange refined products for as much as 800,000 barrels a day of crude in 2017, it said on Thursday.

* China’s fierce buying will push its February loadings of West African crude to their highest in at least 13 years, a Reuters survey of traders and shipping data showed on Friday.


* ExxonMobil continued to offer a prompt cargo of Qua Iboe loading mid-February at dated Brent plus 80 cents a barrel. Offers for the March loading cargo of the same grade were at least dated Brent plus $1.20 a barrel.

* Shell and Lukoil still had cargoes of Erha on offer at dated Brent plus $1.30-$1.50 a barrel. Shell’s will load March 12-13 and Lukoil’s is for March 30-31 loading.

* Traders said that Qua Iboe’s strength was underpinning Erha as well.


* Around six to seven March-loading cargoes are still looking for buyers, traders said.

* Total and Shell were offering Pazflor at dated Brent minus 50 cents a barrel.

* BP sold an end-March cargo of Saturno to Unipec earlier this week but price details did not emerge.


* Indonesia’s Pertamina awarded its March loading buy tender to Vitol for a cargo of Qua Iboe, Shell for a cargo of Gabonese Rabi Light and Glencore for a cargo of Congolese Coco.

* Glencore won the last Congolese tender late last year for one cargo of Coco crude per month for the January-June period.

* India’s IOC issued a buy tender for cargoes loading in the first 10 days of April. Results are expected to emerge on Feb. 9 when the second part closes. (Reporting By Julia Payne; Editing by Greg Mahlich)

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