W. Africa Crude-Angola to export fewer cargoes, Nigerian OSPs awaited

0
957

LONDON, Dec 17 – Preliminary February export
programmes for Angolan crude emerged on Tuesday showing a
somewhat reduced volume compared to previous months, while
Nigerian official selling prices are expected imminently.

ANGOLA
* Around five Angolan cargoes were still available for
export in January, a relatively low level compared to previous
months on solid European demand.
* The February preliminary programme projects 38 cargoes
plus three deferred from previous weeks — down from 43 planned
for January.
* Chevron continued to seek a buyer for two cargoes of
Cabinda crude at over dated Brent plus $3.00, with one
originally set to load Jan. 19-20 and another Jan. 31-Feb. 1.
* One of those cargoes, along with a CLOV and a Mostarda
assigned to Total are now set to be exported in February amid
loading delays.

NIGERIA
* Nigeria’s NNPC is expected to release its January official
selling prices, as some traders expected broad increases from
relatively low prices last month which were at odds with robust
demand and sales.
* At least 20 Nigerian cargoes remained from the January
schedule.
* Prices for Bonga and Egina crude have been buoyed by a
wave of demand as refiners seek them for production of
low-sulphur fuels ahead of new global rules, with the latter
selling for as high as dated Brent plus $4.00 recently.

TENDERS
* India’s IOC issued a tender for crude loading Feb. 1-10.
The tender closes on Tuesday with results expected on Wednesday.
* India’s HPCL issued a tender for crude loading Feb. 1-10
with results expected on Friday, Dec. 20.

RELATED NEWS
* Angola has recovered more than $5 billion stolen from
state coffers so far this year, both at home and from abroad,
Justice Minister Francisco Queiroz said on Monday, amid a
two-year crackdown on corruption.
* Russia is hopeful of Russia’s TMK and the Republic of the
Congo’s national oil company, SNPC, signing a deal soon to build
an oil pipeline in the West African nation, Russian deputy
energy minister Pavel Sorokin said on Tuesday.

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