W. Africa Crude-Angolan cargo offers steady

An oil pump jack is seen at sunset in a field outside Scheibenhard, near Strasbourg, France, October 6, 2017. REUTERS/Christian Hartmann

LONDON, Jan 2 (Reuters) – Angolan crude was offered at stable levels on Tuesday amid relatively ample supply, while a number of pending buy tenders were in focus.

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* State oil company Sonangol is offering Olombendo at dated Brent plus 80 cents, Dalia at dated minus 30 cents, Saturno at dated minus 40 cents and Hungo at dated plus 10 cents. These offers were stable from last Thursday’s offers.

* The number of cargoes being sold by Sonangol is higher than in recent months.

* Activity appeared to be limited.

* The last offer level heard for Qua Iboe was dated Brent plus $1.90.

* Indian refiner BPCL has a tender to buy West African crude for loading Feb. 1-10. It closes on Jan. 4. The company is also running a tender to buy March-loading U.S. crude.

* A tender from Indonesia’s Pertamina to buy early to mid-March delivery West African crude closes on Jan. 3. (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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