W. Africa Crude-Angolan trades, tenders remain focus


LONDON, Nov 7 (Reuters) – Some spot trade took place on Angolan crude on Tuesday but traders’ focus remained on the large tenders closing this week.

* Sinochem sold a cargo of Angolan Cabinda loading Dec. 13-14, two traders said. The buyer was said to be Gunvor but this could not be confirmed immediately and no price details emerged.

* Angola’s state-owned Sonangol lowered its offer for a cargo of Olombendo to dated Brent plus 80 cents a barrel from 85 cents. It has also been offering a cargo of Dalia at dated Brent minus 50 cents a barrel.

* Close to a dozen cargoes were left in Angola’s December programme.

* About seven cargoes of Nigerian Qua Iboe were on offer from Total, ExxonMobil, Glencore and Shell.

* Litasco has been offering two cargoes of Bonga loading in early December at dated Brent plus $1.40-$1.50 a barrel.


* India’s IOC issued a buy tender for West African crude loading Dec. 9-20. Part one closes on Nov. 8 and part two on Nov. 9 with validity ending the same day.

* Indonesia’s Pertamina issued a buy tender for crude cargoes for January delivery. The tender closes on Nov. 8 with validity until Nov. 13.

* India’s BPCL issued a buy tender for December and January-loading crude. The first part closes on Nov. 7 and the second on Nov. 9 with validity until Nov. 10.

* Indonesia’s Pertamina closed a buy tender for the first quarter of 2018. Results are expected next week.


* Nigeria’s oil minister will visit the Niger Delta this week in an effort to stave off a threat of more insurgent attacks in the area. He said that without more investment it would be a struggle to ease tensions and develop the country’s main crude-producing region. (Reporting By Julia Payne; Editing by David Goodman)

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.


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