January 14, 2020 / 5:47 PM / 10 days ago

W. Africa Crude-Nigerian offered in window, Angolan programme expected

    LONDON, Jan 14 (Reuters) - Traders offered Nigerian cargoes
in the window on Tuesday in an effort to drum up interest in
February cargoes.
    
    * Angolan state oil company Sonangol was still offering a
February-loading cargo of Gindungo at dated Brent plus $1 and a
Hungo cargo at dated Brent plus $1.40. 
    * Less than 10 cargoes remained from Angola's February
loading programme. 
    * BP was offering CLOV and Girassol around dated Brent plus
$2.75 and Pazlor around dated Brent plus $1.55. Equinor was
showing a cargo of Saxi at a little more than dated Brent plus
$2 and ExxonMobil was offering Dalia at dated Brent plus $2.50. 
    * Angola's March loading programmes were expected to emerge
by Thursday, with Nigerian official selling prices also expected
this week. 
    * Nigerian crude sales have been slow, traders said, and
about four cargoes of Djeno were also unsold.
    * Sellers have resorted to offering cargoes in the Platts
window in a relatively rare move. 
    * Mercuria offered a cargo of Forcados at dated Brent plus
$6.60 on a delivered basis to Rotterdam for Feb. 11-15. 
    * Vitol withdrew an offer for a cargo of Okono at dated
Brent plus $1.50 free on board (fob) for loading Feb. 8-9.
    * Equinor withdrew a cargo of Bonga at dated Brent plus
$6.95 on a delivered basis to Rotterdam for Feb. 28 to March 10.
    * India's IOC has two tenders closing this week, with
results expected on Thursday. One is for cargoes loading from
end-February to March 3. The other is for loading over March
11-20. 
    
    RELATED NEWS
    * Shares in Nigerian oil company Lekoil         plunged more
than 70% before recovering slightly on Tuesday following a
suspension of trading after the firm discovered that a $184
million loan it had announced was fraudulent.             


 (Reporting by Julia Payne
Editing by David Goodman)
  
 
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