W. Africa Crude-Spot muted after previous flurry of sales


LONDON, Nov 11 – Spot trade was slow on Monday
after busy trading in the previous week as refiners sought to
mop up grades suitable to make fuel oil compliant with new
shipping rules coming into effect from January.

* Relatively firm refining margins were helping to buoy the
market for light, sweet Nigerian grades.
* Less than 10 Angolan cargoes remain from the December
programme after a flurry of deals last week.
* Indian Oil Corp issued a tender to buy west African crude
loading Jan. 5-14. The tender closes on Nov. 14.
* Vitol won the IOC tender last week with a cargo of Akpo.

* Lower prices and increasing competition for investment are
driving many African states to make it easier and cheaper for
overseas companies to keep their oil and gas output flowing.

(Reporting By Julia Payne; Editing by Jan Harvey)

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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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