November 30, 2018 / 5:24 PM / 11 days ago

W. Africa Crude-Spot limited as Chinese interest stalls

LONDON, Nov 30 (Reuters) - Spot activity was limited as buying interest from independent Chinese refiners was thin due to uncertainty over allocations for next year and the recent crash in global oil prices.

* Angola’s state firm Sonangol has four January cargoes left. It was offering Gindungo at dated Brent minus 10 cents a barrel, Olombendo at dated Brent plus 10 cents, Pazflor at dated Brent minus 20 cents and Saturno at dated Brent minus 60 cents.

* Sonangol has already sold two spot cargoes, a Dalia and a Girassol. The Girassol was initially offered around dated Brent plus $1.60 a barrel, but this level was dropped twice with dated Brent plus $1.25 being the last offer before it sold.

* Nigeria’s MRS awarded a sell tender this week for a cargo each of Agbami and Escravos both loading Jan. 20-21. Chevron won the cargo of Escravos, traders said. The cargo of Agbami loading the same date was thought to have gone to Litasco.

*India’s IOC issued a tender for Feb. 1-10 loading. It closes on Dec. 5.

*Indonesia’s Pertamina is seeking between 950,000 and 1.9 million barrels of light sweet crude for delivery in early February in a tender that will be awarded on Tuesday, traders said.

RELATED NEWS

* OPEC oil supply fell in November from a two-year high due to U.S. sanctions on Iran, a Reuters survey found, although most of the output gap left by Iran was plugged by Saudi Arabia and the UAE in response to calls from U.S. President Donald Trump. (Reporting by Julia Payne Editing by Louise Heavens and David Holmes ) ))

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