W. Africa Crude-Angolan trades weaker, Nigerian steady


LONDON, Nov 8 – A cargo of Angolan Olombendo crude traded on Wednesday after a lower offer, while other offers of Angolan crude were steady and differentials looked unchanged in the Nigerian market.

* About 12 December-loading cargoes are available, a trader said, steady from Tuesday’s assessment.

* State oil company Sonangol lowered its offer for a cargo of Olombendo to dated Brent plus 70 cents, down 10 cents from Tuesday, and later sold the cargo to Unipec, traders said. The deal price was not known.

Sonangol was still offering a cargo of Dalia at dated Brent minus 50 cents.

* Qua Iboe was offered at dated Brent plus $1.30, steady from an offer level reported on Nov. 2. Several cargoes are available.

* Indian Oil Corp. 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 closed 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.

Reporting by Alex Lawler; Editing by David Evans

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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). He currently lives in Manhattan New York


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