November 6, 2018 / 5:33 PM / 10 days ago

W. Africa Crude-Nigerian diffs hold steady but buyers say prices too high

LONDON, Nov 6 (Reuters) - Nigerian differentials for December cargoes held unchanged on Tuesday, as potential buyers said offer prices were too high given the amount of unsold crude that is available.

* Exxon and Oando were said to be offering December-loading cargoes at premiums of $1.75 a barrel to the dated Brent price, showing no change on levels seen on Monday, but found no buyers.

* Traders said they believed around 10 cargoes were left from Nigeria’s December loading programme

RELATED NEWS

* India aims to sign an initial agreement with Iran this month to settle all their oil trade in rupees through India’s UCO Bank, two Indian government sources said.

* Africa-focused Tullow Oil expects the first crude shipments from its Kenyan oilfields in the first half of 2019 and is pricing the product for the market, the company’s chief executive said on Tuesday.

* Uganda, which is developing oil deposits but has yet to begin production, will launch its next bidding round for oil exploration licences in May next year, a government official said on Tuesday.

TENDERS

* Uruguay’s state-run oil firm ANCAP is offering to buy up to 1 million barrels of a medium or light crude for delivery Jan. 22-26 at Jose Ignacio port. Bids will be received through Nov. 7.

* Indonesia’s Pertamina is running a tender for crude delivered in January and February. The tender closed on Nov. 1. (Reporting by Amanda Cooper, Editing by Ed Osmond) ))

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