W. Africa Crude-Sasol issues buy tender, spot activity muted


LONDON, Jan 3 – Activity was focussed on a handful of small tenders on Thursday with sellers staying on the sidelines as demand has yet to resurface following the holiday period.

* Chinese demand has been weaker for the latest month’s cargoes and inventories are high, traders said.

* State oil firm Sonangol was still offering two cargoes of Dalia at dated Brent minus 30 cents a barrel loading Feb. 17-18 and Feb. 23-24.

* Nigerian oil marketing firm MRS awarded its sell tender for a cargo of Forcados loading Feb. 14-15 and a cargo of Amenam loading Feb. 10-11 but winner details did not immediately emerges

* South Africa’s Sasol issued a buy tender for a cargo of west African crude loading mid to end-February.

* Glencore won a buy tender by Astron Energy, its oil refinery in South Africa, with a cargo of Nigerian Okwuibome for early March arrival.

* High-sulphur fuel oil (HSFO) volumes traded in S&P Global Platts’ Singapore price assessment process nearly halved in 2018 from the previous year, signs of a market shift ahead of tougher global marine fuel rules coming in 2020. (Reporting By Julia Payne; Editing by Mark Potter) ))

This site uses Akismet to reduce spam. Learn how your comment data is processed.