W. Africa Crude-Cargoes clear, IOC tender result awaited

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LONDON, Nov 6 (Reuters) – Traders said Nigerian cargoes were
clearing fairly swiftly on Wednesday though the closing of an
Indian tender put the brakes on fresh offers.

* Nigerian Escravos was largely sold out with one lingering
cargo loading Dec. 26-27. Offer levels had been around dated
Brent plus $3.50.
* Exxon Mobil was offering a cargo of Nigerian Usan at dated
Brent plus $1.00.
* Bonny Light and Qua Iboe were being shown in high plus
$2.00s over dated Brent.
* Angola’s state firm Sonangol sold its 750,000-barrel cargo
of Gimboa to an Asian buyer after offering it around dated Brent
plus $2.00.
* Total was offering at least four December loading cargoes
– CLOV at dated Brent plus $2.90, Mostarda at plus 90 cents,
Girassol at plus $3.10 and Pazflor at plus $2.30, traders said.
* Around 15 Angolan cargoes remain from the December
programme.

TENDERS
* Indian Oil Corp is running a buy tender closing Nov. 7 for
West African crude loading Jan. 1-10.

RELATED NEWS
* Total is seeking to sell its 12.5% stake in a
major deepwater oilfield off the coast of Nigeria, industry and
banking sources said, in an effort to adjust the energy
company’s Africa portfolio amid a broad expansion.
* Nigeria’s President Muhammadu Buhari signed a bill into
law on Monday that amends legislation on agreements related to
offshore oil production, according to the president’s Twitter
account.

(Reporting By Julia Payne; Editing by Kirsten Donovan)

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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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