July 16, 2019 / 4:58 PM / 6 months ago

W. Africa Crude-September Angolan programme holds exports steady

LONDON, July 16 (Reuters) - Angola’s preliminary export programme for September emerged on Tuesday, indicating the number of cargoes would match those originally planned for last month at 45.


* A cargo from the offshore Saturno stream was expected to be among the September exports after it was delayed then deferred past August due to an outage.

* Industry sources attributed the shutdown to maintenance and said it went back online over the weekend.

* Only a small handful of August loading cargoes remained as Asian margins and freight rates improved while Chinese refiners sought to meet quotas.

* Although it was an improvement on the July loading period in which Chinese buying was significantly down, it marks only the second overhang for Angolan oil in 2019.


* Nigerian state oil firm NNPC issued award letters on Monday for contracts to exchange crude oil for imported fuel 2019 — known as Direct Sale and Direct Purchase (DSDP).

* The contracts are for one year, involve 15 groupings with at least 34 companies in total, and are expected to start with October-loading cargoes.

* July-loading cargoes were heard to have likely cleared, while a normal overhang of around two dozen cargoes loading in August was expected as preliminary programmes for September are expected in the coming days.

* Genscape reported on Friday that the 85,000 bpd CDU and 41,000 bpd VDU in the Point Breeze section of the refinery are back online.

* Traders and Refinitiv Eikon ship tracking data indicate that there has been no large scale diversion of West African crude cargoes away from the Philadelphia PES refinery, a consistent buyer of WAF grades.


* Indonesia’s Pertamina issued a tender for one cargo per month for October-December delivery set to close on Monday.

* Astron Energy in South Africa has issued a tender for a West African grade closing today, though no details emerged.


* Ten Turkish sailors were taken hostage by armed pirates who attacked a Turkish-flagged cargo ship off the coast of Nigeria, the vessel’s owner said on Tuesday, adding that another eight sailors were left safely aboard.

* Refineries in Taiwan and South Korea are testing the market for fuels that meet new rules for low-sulphur ship fuel starting next year, exporting some cargoes of very low-sulphur fuel oil (VLSFO) this month. (Reporting by Noah Browning Editing by Edmund Blair) ))

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