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W. Africa Crude-Angolan trade slow, Nigerian steady

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W. Africa Crude-Angolan trade slow, Nigerian steady

LONDON, April 25 (Reuters) – * Angolan crude for June loading has not attracted much spot buying interest yet as offer levels fail to tempt buyers. * Nigerian differentials were steady. The full set of June loading programmes has not been issued yet.


* Few spot sales of June-loading Angolan cargoes have come to light. BP was heard to have sold its early June-loading Mondo cargo, but buyer and price details were not known.

* Sonangol’s offers of Dalia and Sangos cargoes, at dated Brent minus $3 and dated minus $1.80 respectively, were unchanged from Friday. The company has allocated 13 June-loading cargoes to term buyers.

* Other sellers were offering cargoes of Pazflor at dated minus $3.00 and Hungo at dated minus $2.60, a trader said.


* About 14 to 15 May-loading cargoes are still unsold, traders said, on a par with Friday’s assessment.

* The full set of June-loading programmes has yet to emerge. Programmes for Erha, Forcados and a few smaller grades have not been issued.

* Qua Iboe was valued at about dated Brent plus $1.00 to plus $1.10, in line with Friday.


* The results of buying tenders from Indian refiners MRPL and BPCL are expected early this week. MRPL is looking for June-loading crude and BPCL is seeking second-half May barrels.

Source: Reuters


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