January 11, 2019 / 4:57 PM / in 13 days

W. Africa Crude-Sonangol sells Dalia, Nigerian supported

LONDON, Jan 11 (Reuters) - Angolan crude cargoes for February loading are finding buyers, helped by a drop in offers, according to traders on Friday, while Nigerian crude was being supported by European demand.


* State oil company Sonangol earlier this week sold its two cargoes of Dalia loading on Feb. 17-18 and Feb. 23-24, a trade source said. The cargoes were last offered at dated Brent minus 50 cents a barrel.

* As a result, Sonangol is sold out for the month and less than 10 cargoes of February-loading Angolan crude were still believed to be available for sale.


* Qua Iboe traded at a premium of $1.75 to dated Brent this week, the highest since September 2018 according to Refinitiv Eikon data.

* The number of unsold Nigerian cargoes has been dropping steadily this week to 12 or less. Traders say northwest European refiners have been buying more Nigerian crude, as the drop in Iranian exports following U.S. sanctions has tightened supply in the Mediterranean. (Reporting by Alex Lawler; Editing by Elaine Hardcastle) ))

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