W. Africa Crude-Nigeria’s Forcados set to return, Indian IOC issues new tender

Date:

LONDON May 9 (Naija247news) – Nigerian and Angolan June-loading cargoes were slowly clearing after a few deals and fresh offers, though light crude is set to become even more competitive with the return of Nigeria’s Forcados.

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Shell is testing Nigeria’s Trans Forcados crude export pipeline for a potential restart of 200,000-240,000 barrels per day. The first tanker since November is due to load by the weekend.

Sources said that there was no update on future cargoes.

NIGERIA

* No fresh offers were heard on Bonny Light.

* Shell offered a cargo of Erha at dated Brent plus $1.40 a barrel.

* Oando offered a cargo of Amenam at dated Brent minus 50 cents a barrel for loading June 11-12. Oando recently sold a cargo of Agbami, though price details could not be confirmed.

* Unipec offered a cargo of Usan at dated Brent minus 50 cents a barrel loading June 13-14.

* ExxonMobil earlier sold to India’s IOC a cargo of Usan loading June 25-26.

ANGOLA

* At least two cargoes of Dalia are on offer at about dated Brent minus 80 cents a barrel. ExxonMobil is one of the sellers and intially showed the cargo at a discount of 60 cents a barrel.

TENDERS

* India’s IOC issued a buy tender for crude loading July 15-25. Part two closes on Friday.

RELATED NEWS

* Italian oil company Eni plans to build a crude refinery in Nigeria with capacity of 150,000 barrels a day through its Agip subsidiary, the country’s oil minister said on Tuesday.

Babatunde Akinsola
Babatunde Akinsolahttps://naija247news.com
Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports

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