February 14, 2018 / 4:34 PM / 5 months ago

W. Africa Crude-Qua offered higher, Angolan market quiet

LONDON, Feb 14 (Reuters) - Nigerian crude differentials remained strong on Wednesday with some offers rising, while the Angolan market was subdued ahead of the release of new loading programmes.

The Nigerian loading programme has sold more quickly than in recent months, a trader said, because more major oil companies have been processing crude in their European refineries.


* Only about eight cargoes for March loading are still available, one trader said, and some cargoes are being re-offered by the original buyers.

* Available cargoes include one of Agbami crude, one of Bonny, one of Erha and one of Qua Iboe, the trader said.

* Qua was offered on Wednesday at dated Brent plus $2.40, the trader said, up 10 cents on an offer reported on Tuesday.


* Demand from China before the Lunar New Year has helped the bulk of the March-loading cargoes find homes.

* Around six cargoes for March loading were available, steady from Tuesday’s assessment. The loading schedule for April cargoes should be issued in the next few days.


* Indian Oil Corp. is running a buying tender this week expected to take some West African cargoes for loading on April 10-20, a trader said.

* Indonesia’s Pertamina was thought to have bought Qua Iboe from Total in a tender that concluded earlier this week. Further details were not available. (Reporting by Alex Lawler; Editing by David Evans) ))

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