W. Africa Crude-Trade limited as Nigerian programmes trickle out


BRUSSELS, Sept 25 (Reuters) – Nigerian November loading programmes continued to emerge on Monday while trade overall was limited due to a wide spread between the European and Asian benchmarks, making Brent-based oil more expensive for Asia, and a reluctance by sellers to lower differentials.


* Unipec continued to offer at least four of its October-loading Angolan cargoes, including Nebma, Dalia, Kissanje and Plutonio. It was also offering Congolese Djeno and Ghana’s Jubilee.

* There was still no sign of the Bonny Light programme. The grade is currently under force majeure. The Erha schedule has also not yet come out but is typically among the last to surface.

* The Brass River schedule came out with four cargoes while Amenam will have three cargoes in November. The Congolese Djeno programme will consist of seven cargoes in November, a trader with the programme said.

* Indonesia’s Pertamina issued a buy tender for crude for December delivery. The tender closes on Oct. 2 and is valid until Oct. 5.

* A tender from India’s BPCL to buy oil closed on Friday, but details on the award were not immediately available.

* The main subsidiary of Nigeria’s state oil company said on Monday it planned to increase production from fields in which it owns stakes to 300,000 barrels per day by 2018 from the current level of 180,000 bpd. (Reporting by Julia Payne; Editing by Adrian Croft) ))

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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).


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