August 17, 2012 / 4:17 PM / in 6 years

WAfrica Crude-Market awaits Angolan offers

GENEVA, Aug 17 (Reuters) - West African differentials moved
sideways on Friday, with traders waiting for the first offers on
Angolan crude oil for October to emerge.
    Angola's crude oil exports are set to rise in October by
around 100,000 barrels per day from a 15-month low the previous
month to 1.67 million bpd, likely weighing on Angolan
    "It's hard to call as there are bullish and bearish factors.
The flat price is high but freight is really cheap," said a West
African crude oil trader.
    Traders are still awaiting the result of the tender issued
by India's MRPL for loading end-September/early October. Between
3-5 Nigerian tankers including Brass River, Bonny Light and
Bonga are thought to remain from the September programme.

    * Bonny: Traders said that a 500,000 barrel cargo of Bonny
Light was added to the September loading programme. It has been
sold to Shell, traders said.
    * Qua Iboe: assessed at around dated plus $1.60 a barrel.
    * The country is due to load around 52 million barrels on 54
tankers. Girassol, Mondo and Pazflor volumes are all set to rise
in October, the programme showed.
    * MRPL was seeking two cargoes of 600,000 barrels each for
Sept. 15-30 and Oct. 1-15 loading, traders said.

    For a database of oil supply and demand fundamentals
upstream and downstream, Reuters subscribers can click on:

 (Reporting by Emma Farge; Editing by Helen Massy-Beresford)
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