W. Africa Crude-Indian tender awarded, more Nigerian offers emerge


LONDON, April 4 – More offers for Nigerian crude surfaced but trade remained slow, including for Angolan crude, owing to refinery maintenance and a temporary glut of crude off China.

* A handful of April loading Nigerian cargoes remained.

* Shell was offering May loading cargoes including Nigerian Amenam at dated Brent plus 90 cents a barrel, Agbami at dated Brent plus 60 cents a barrel and Erha at dated Brent plus $1.90.

* May loading cargoes of Nigerian Qua Iboe were being offered at dated Brent plus $1.70-1.80 a barrel, higher than April cargoes, while Nigerian Forcados was being shown at dated Brent plus $1.80-1.90 a barrel.

* Angola’s state oil firm Sonangol continued to offer three Dalia cargoes at dated Brent minus 90 cent a barrel, Sangos at dated Brent minus 40 cents and Saturno at dated Brent minus 75 cents.

* Indian state oil refinery IOC awarded its tender to Shell to take 2 million barrels, several traders said, but the grade details did not immediately emerge.

* Indonesia’s Pertamina was also running a tender to buy oil that closes this week.

* OPEC oil output fell in March to an 11-month low due to declining Angolan exports, Libyan outages and a further slide in Venezuelan output, a Reuters survey found, sending compliance with a supply-cutting deal to another record. (Reporting by Julia Payne. Editing by Jane Merriman and Alexander Smith) ))

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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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