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Angolan and nigerian crudes-January loading programmes start to appear

 

By Reuters Staff

LONDON
Petroleumworld 11 17 2017

Angolan crude exports look set to hold steady in January, a trade source said on Thursday, while ample supply was weighing on Nigerian differentials.

ANGOLA

* Angola will export 51 cargoes in January, a trade source said on Thursday, citing a preliminary loading programme. The cargo count matches December's plan.

* Some December-loading cargoes are still available.

NIGERIA

* Loading programmes for January started to be issued earlier than expected. Exports of Forcados are set to rise, while shipments of Qua Iboe and Bonny Light will slip.

* Differentials for Qua were steady after coming under pressure this week following the addition of another cargo to the November programme.

* November-loading Qua was offered at dated Brent plus $1 and December barrels were shown on Thursday at dated Brent plus $1.30, both unchanged from offers reported on Wednesday.

The last November cargo to trade was sold at below dated plus $1 and the likely deal level for December cargoes is probably also below the offer.

TENDERS

* Taiwan's CPC is running a buying tender closing on Friday for January-loading sweet crude.

* Indian Oil Corp is running a buying tender for West African crude loading Jan. 10-20, including a range of Nigerian and Angolan grades along with those from Cameroon, Ghana, Gabon and Equatorial Guinea.

 



Reporting by Alex Lawler; Editing by David Goodman de Reuters.

reuters.com 11 16 2017

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