Reuters
Published Sep 05, 2019 18:22
W. Africa Crude-Buyers await easing of Angolan offers
LONDON, Sept 5 (Reuters) - Asian and European buyers
continued to show interest in Angolan oil as it sells briskly
this month, but remaining cargoes will need to be discounted to
sell, according to some traders.
ANGOLA
* Around 15 cargoes of Angolan oil remain available for
export in October.
* Chinese buyers are on pace to buy much of Angola's supply,
but state oil company Sonangol has lowered its offer for its
last remaining cargo for the month, a Dalia.
* Heavy sweet crudes remain sought after ahead of rules
mandating low-sulphur fuel oils, but steep backwardation and the
all-time high differentials make South American, Middle Eastern
and Australian oil more affordable for the East.
* A cargo of Mostarda was being offered at dated Brent plus
$1.30 and Mondo at dated Brent plus $2.45.
NIGERIA
* High volumes for October loading at the North Sea's new
Johann Sverdrup field were causing traders to question some of
the high offered prices for comparable Nigerian grades.
* Bonny Light and Qua Iboe continue to be offered for as
high a premium of $3.00 compared to dated Brent.
* Ghanaian TEN and Jubilee were being offered at a premium
of $2.80 and $3.10 compared to dated Brent, respectively.
TENDERS
* India's IOC issued two tenders for loading Oct. 11-20 and
Nov. 1-10. Winner details had yet to emerge on Thursday.
* Indonesia's Pertamina issued a buy tender for light crude
cargoes, including west Africa, for Nov. 1-19 delivery. It
closes on Sept. 6 and remains valid until Sept. 10.
* Indonesia's Pertamina issued a second buy tender for
condensate cargoes for Dec. 1-5 delivery cargoes. It closes on
Sept. 6 and remains valid until Sept. 10.
* Both Uruguay's ANCAP and Astron Energy in South Africa
issued tenders for crude exporting on October, though details
did not immediately emerge.
RELATED NEWS
* Exxon Mobil (NYSE:XOM) has agreed to sell its Norwegian oil and gas
assets for up to $4 billion, in a move that marks the U.S.
firm's exit from production in the country where it has operated
for more than a century, sources said on Thursday. * Sinochem Energy Technology Co Ltd, a subsidiary of state
oil and chemicals firm Sinochem Group, is in talks with Royal
Dutch Shell (LON:RDSa) and Macquarie Group to build an energy blockchain
platform, sources said.
Written By: Reuters
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