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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