W. Africa Crude-Sonangol sells out, Nigerian spot trade slows

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LONDON, Feb 6 (Reuters) – Angola’s Sonangol sold the last of its March cargoes, while pending tenders from Ancap, Pertamina and IOC limited fresh spot trading on Nigerian grades.

* Angolan state oil company sold the last three cargoes of March-loading crude it had available, including two Dalia and a Saturno.

* India’s Reliance had booked the March 24-25 Dalia, traders said, while the 19-20 loading cargo will sail to the Mediterranean.

* The cargo of Saturno would sail west in a somewhat unusual move, a trader said, though the precise destination was unclear.

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* The company had been offering the cargoes at discounts of $1 per barrel versus dated Brent, but the sale prices were not immediately clear.

* While the coming refinery maintenance season was expected to cut demand for crude feedstock, margins in Europe of just under $7.50 per barrel – the highest since November – spurred strong demand from the units that were not planning shutdowns.

* Offers of Nigerian crude were firming as a result, with loading delays on Bonga also boosting price expectations.

* Bonga loadings were delayed anywhere from three to 10 days, traders said, after Shell performed some maintenance on the export platform in late January.

* The company said it is gradually ramping up output now.

* Forcados is on offer as high as $2.60 per barrel above dated Brent, with Bonny and Qua offered closer to $2 per barrel.

* Pending tenders kept a lid on fresh spot trading.

TENDERS
* Indonesia’s Pertamina had purchased one cargo of Congolese Coco crude oil in a spot tender for April delivery, traders said.

* The company also issued a term tender to buy oil for May/June delivery that closes later this week.

* Uruguay’s Ancap was also running a spot tender to buy a cargo of crude oil, for April 10-14 delivery, including West African grades.

* India’s IOC was running a tender to buy West African crude oil for loading April 1-10. The tender closes on Thursday.

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