July 11, 2018 / 5:12 PM / 4 months ago

W. Africa Crude-IOC clears some cargoes

LONDON, July 11 (Reuters) - An Indian tender helped mop up some west African crude on Wednesday, while some more Angolan traded on spot.

* Spot trade has ramped up over the last two weeks, helped by a major Libyan outage that took 800,000 barrels per day of alternative crude from the market. On Wednesday, Libya’s NOC announced the lifting of force majeure on the key ports.

* Less than 20 cargoes remain from Nigeria’s August programme as a result of the increased demand.

* Nigerian Bonny Light, Qua Iboe and Forcados were last heard to be on offer at around dated Brent plus $2 a barrel.

* ExxonMobil sold its cargo of Angolan Girassol that it had been offering at dated Brent plus 60 cents a barrel as well as its cargo of CLOV.

* Angolan CLOV cargoes were said to be sold out and Chevron also sold its cargo of Cabinda loading Aug. 13-14 that had been offered at dated Brent minus 50 cents. Final price and buyer details did not immediately emerge.

* Close to 10 cargoes of August-loading Angolan crude were still available, traders said.


* Indian Oil Corp awarded its Sept. 15-25 buy tender to Chevron, taking two VLCCs, several traders said.


* Indian refiners cut imports of Iranian oil last month as they started weaning their plants off crude from the country to avoid sanctions by the United States that are set to take effect in November.

* Tripoli-based National Oil Corp (NOC) said on Wednesday four export terminals were being reopened after eastern factions handed over the ports, ending a standoff that had shut down most of Libya’s oil output. (Reporting by Julia Payne; Editing by Mark Potter) ))

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below