W. Africa Crude: More Nigerian programmes emerge, Cabinda sold out

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LONDON, March 24  – More May loading programmes emerged for Nigeria and Gabon while lingering April Nigeria’s Qua Iboe proved slow to sell and roughly 15 cargoes of April loading west African crude cargoes were still on offer.

NIGERIA

* Around seven or eight April cargoes were still available or being re-sold. ExxonMobil was still showing its April 20-21 cargo of Qua Iboe at around dated Brent plus $1.00.

* The Amenam programme surfaced with four cargoes of 1 million barrels each in May – two for Total and two for state oil firm NNPC.

* Qua Iboe was pegged at around dated Brent plus 60 to 80 cents a barrel with no May cargoes on offer yet as the first 10 days of May are deferred April ones.

* Traders were also waiting for term allocations from NNPC.

ANGOLA

* Around three or four cargoes were left from the April programme.

* Statoil was offering a cargo of Girassol at dated Brent plus 35 cents a barrel, loading in May.

* Cargoes of Cabinda were sold out mainly to term buyers, traders said, and the grade was pegged at a small discount to dated Brent.

* Unipec was offering several April cargoes, including Saturno, Mondo, Nemba, Kissange, Hungo and others.

* State firm Sonangol has not sold its spot cargoes yet.

TENDERS

* A tender from India’s BPCL for May loading cargoes closes early next week.

RELATED NEWS

* Carlyle Group has bought Royal Dutch Shell’s onshore assets in Gabon for $587 million as the world’s largest private equity fund expands in the global oil and gas sector.

* Bad weather off the coast of Angola has prevented the berthing of fuel vessels docking at Cabinda and Benguela ports, causing shortages at filling stations and power blackouts, state-energy company Sonangol said.

* The head of a group helping organise Shell’s clean-up efforts in an oil Delta community in Nigeria said he was hopeful clean-up work after two spills in 2008 could start in April.

Reuters

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