November 20, 2019 / 4:22 PM / 16 days ago

W. Africa Crude-Grades steady, Nigerian programmes due

    LONDON, Nov 20 (Reuters) - Nigerian crude differentials were
steady on Wednesday with some grades at multi-year highs
supported by strong demand.
    Spot trade remained thin as traders waited for Nigerian
loading programmes and official prices, as well as for Angolan
allocations.
 
    NIGERIA
    * Qua Iboe was last heard to be offered at in excess of
dated Brent plus $4 a barrel. The grade hasn't been valued at
dated plus $4 since 2013. 
    * Nigeria's Nembe Creek oil trunk pipeline that moves Bonny
Light crude has been shut due to sabotage, a spokesman for
operator Aiteo said on Tuesday.             
    Aiteo said the shutdown occurred last week. Shell told
Reuters there was no force majeure in place over exports of
Bonny Light.
    * Bonny is transported to its export terminal by two
pipelines. The other is operational.
    * Nigeria's official selling prices were expected to emerge
on Thursday, with January loading programmes following soon.
    * At least 20 Nigerian cargoes were still available from the
December programme, traders said, similar to Tuesday's estimate.
        
    ANGOLA
    * A few cargoes of Angolan crude remain from the December
programme.
    * Angolan state firm Sonangol is expected by traders to
finalise its term allocations for the January programme on
Thursday. 
        
    TENDERS
    * Indian Oil Corp. is running two tenders. One is for crude
loading in the last 10 days of January and the is other for
cargoes loading at the end of December. Both tenders close on
Thursday and results are due on Friday. 

 (Reporting by Alex Lawler, additional reporting by Noah
Browning; Editing by Elaine Hardcastle)
  
 
 ))
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