W. Africa Crude-More Angolan cargoes find buyers

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A general view of a crude oil importing port in Qingdao, Shandong province, November 9, 2008. REUTERS/Stringer/File Photo

LONDON, April 11  – The number of remaining Angolan cargoes for May loading is getting steadily smaller, traders said on Tuesday, after sellers such as state oil company Sonangol lowered their asking prices.

ANGOLA

* Around 9 or 10 Angolan cargoes from the May programme are still available, down from Monday’s assessment of 14-15 cargoes.

* Of these, state oil company Sonangol just has a Dalia cargo to sell, which it was still offering at dated Brent minus 70 cents a barrel. Sonangol lowered its offer for Dalia to that level on Monday. One potential buyer saw value closer to dated minus $1.00.

NIGERIA

* Nigerian Qua Iboe was offered at around dated Brent plus $1.00 a barrel but trade levels were thought to be slightly lower.

* There is ample supply of Nigerian crude. One trader said there was about 30 cargoes available.

TENDERS

* Indian Oil Corp. is running a buying tender for cargoes loading on June 5-15. The first part closes on April 12 and the second part on April 13, with results expected soon after.

 

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