W. Africa Crude-Nigerian sells into tender, Angolan trades on spot

FILE - In this Monday, Dec. 26, 2011 file photo, Shell Bonga offshore oil Floating Production Storage and Offloading vessel off the coast of the Niger Delta in Nigeria. Shell closed the terminal exporting Nigeria's benchmark Bonny Light crude oil on Wednesday May 11, 2016 and was evacuating workers from a threatened oil field as renewed militant attacks cut production in Africa's biggest petroleum producer, the company and a union leader said. (AP Photo/Sunday Alamba, file)

LONDON, March 6 (Reuters) – Several Angolan cargoes traded on a spot basis, while some Nigerian oil found an outlet into an Indonesian tender.

* Several Angolan oil cargoes traded, as Statoil sold a cargo of Dalia and Exxon and Total each sold cargoes of Pazflor.


* Total also sold a cargo of CLOV loading in early April.

* In total, roughly a dozen April-loading Angolan cargoes had yet to trade, including two held by state oil company Sonangol.

* Sonangol was still offering two cargoes, including Dalia at dated Brent minus 70 cents a barrel and a cargo of Saxi at dated Brent plus 75 cents a barrel.

* Several Nigerian cargoes sold into a tender from Indonesia’s Pertamina, but a significant amount of the April loading programmes was still available.

* Mercuria sold a cargo of Agbami to Statoil, but some said the deal was possibly a swap of Agbami cargoes for different dates.

* Sellers had lowered differentials slightly, by 10-20 cents, bringing Qua Iboe down to roughly $2 per barrel above dated Brent.

* Still, several dozen cargoes had yet to trade just a week before the May loading plans were due.

* Total and Glencore had won a tender to supply Indonesia’s Pertamina with crude oil for April and May delivery. Total will supply 3 million barrels, including Nigerian Bonny Light, Qua Iboe and Escravos and Glencore will supply Congolese Coco.

* Pertamina issued another tender for delivery on May 15-16, including Bonny Light, Qua Iboe, Pennington, EA, Okwuibome and another for May 2-3 delivery, including Cabinda, Coco, Girassol, Etame, Olombendo and Rabi Light.

* A tender is due later this week from India’s IOC. (Reporting By Libby George Editing by David Evans) ))

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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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