Nigeria’s crude for March overhang persists as April programmes awaited


LONDON, Feb 19 – Nigerian programmes for April loading had yet to emerge on Tuesday and were expected on Wednesday, traders said, as a moderate overhang of cargoes remained for March.

* Some 15 Nigerian cargoes remain from the March programme, which traders said was in line with some previous months.

* Nigerian differentials stayed steady at a premium of around $1.85 above dated Brent.

* No indications for April loading Angolan cargoes emerged, as traders awaited term allocations to be issued by state oil company Sonangol.

* Indonesia’s Pertamina has issued a buy tender for cargoes for end-April or May delivery. The tender closes this week.

* India’s HPCL has issued a buy tender for April-loading cargoes, set to close on Thursday, which traders said is for a West African grade.

* Saudi Arabia plans to reduce light crude oil supplies to Asian customers for cargoes loading in March, three sources with knowledge of the matter said.

Reporting by Amanda Cooper and Noah Browning; editing by David Evans