November 7, 2019 / 5:20 PM / 11 days ago

W. Africa Crude-Sellers of Nigerian crude raise offer levels

    LONDON, Nov 7 (Reuters) - Differentials for Nigerian crude
grades continued to firm on Thursday despite persistently high
freight rates due to U.S. sanctions on subsidiaries of China's
key shipping company.
    
    * Relatively firm refining margins were helping to buoy the
market, traders said. 
    * The offer level on the final cargo of Nigerian Escravos
loading Dec. 26-27 was raised to dated Brent plus $4.10, up from
plus $3.50 earlier this week, a trader said.
    * Exxon Mobil has increased its offer levels for Nigerian
Qua Iboe to dated Brent plus $3.60 from plus $2.50 on Monday,
traders said. It sold one mid-month cargo this week and still
has two end-December cargoes to sell.
    * Angolan state firm Sonangol sold its 750,000-barrel cargo
of Gimboa to India's Reliance after offering it at around dated
Brent plus $2.00. 
    * Less than 15 Angolan cargoes remain from the December
programme.
    
    TENDERS
    * Indian Oil Corp closed a buy tender for West African crude
loading Jan. 1-10. Vitol was said to be the winner though grade
details did not immediately emerge. 
    * Turkey's Tupras bought a cargo of Bonny Light loading Dec.
10-11, delayed to 16-17, via tender from Vitol. 
    
    RELATED NEWS
    * Angola expects to announce the winners of its 2019 oil and
gas licence auction round in April as part of a multi-year plan
to boost declining output, a senior executive at the National
Agency of Petroleum, Gas and Biofuels (ANPG) said on Thursday.
            

 (Reporting By Julia Payne; Editing by Kirsten Donovan and
Pravin Char)
  
 
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