W. Africa Crude-Angola’s Cabinda crude weakens, Nigeria supported by BP bidding


LONDON, Sept 7 (Reuters) – Nigerian crude grades ended the week supported by bidding interest from oil major BP, which was seeking for an unusually large number of cargoes on Friday.

Elsewhere, Angola’s Cabinda crude weakened.

* BP re-emerged in the Platts window on Friday, according to traders, bidding for 3 cargoes of Forcados and two cargoes of Bonny Light, Qua Iboe and Bonga each throughout October. As in previous days, BP was offering to pay dated Brent + $1.70 a barrel.

* BP bought a cargo of Qua Iboe from Vitol at dated Brent plus $1.63 a barrel loading Oct. 12-13 on a fob basis. This follows on two deals on Thursday in which BP bought cargoes of Bonny Light and Qua Iboe from Vitol at dated Brent plus $1.70 loading in the first half of October.

* Chevron was heard offering two cargoes of Agbami in the second half of October at dated Brent plus 20 cents, and Shell was offering one cargo of Agbami.

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* Qua Iboe was being offered at dated Brent + $2.00 a barrel, traders said.

* Sahara bid for a cargo of Brass River loading Oct. 20-25 at dated Brent +1.00 a barrel.

* Chevron was offering a cargo of Cabinda at dated Brent plus 60 cents loading Oct. 19-20. That was 5 cents weaker than previous asking prices.

* Eni and Unipec were still offering Olombendo, and Total was showing Gindungo, traders said.

* India’s IOC issued a buy tender for west African crude loading Nov. 5-15 or for Dec. 3-12 delivery. The tender closes on Sept. 11 and remains valid until Sept. 12.

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