W. Africa Crude-October clears, IOC takes 4 mln barrels in Nov

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LONDON, Sept 7  – October cargoes were clearing steadily on Thursday with strong margins, especially for gasoline, buoying demand for light, sweet Nigerian crude, although Forcados was proving a slow sell.

ANGOLA

* About 10 cargoes were still available from the October schedule.

* Chevron was offering Cabinda at dated Brent plus $1.10 a barrel and Total was offering Girassol at dated Brent plus $1.40.

* Chevron was said to have sold both its Nemba cargoes with the last offer level heard at about dated Brent plus 40 cents a barrel.

* Total was also still offering its cargo of Nemba.

NIGERIA

* Just under 30 October loading cargoes were still available.

* ExxonMobil and Litasco were still showing their cargoes of Qua Iboe. The last offer heard was around dated Brent plus $1.75 a barrel but deal levels were expected to be a bit lower.

* Most of the Forcados programme was still available, traders said, with Sahara, Shell and Litasco looking around for buyers. Fresh offer levels did not emerge. Offers were last heard just under dated Brent plus $2.00 a barrel.

* The differential for distillate-rich Forcados has firmed over the last few weeks, pushed up by strong gasoil margins.

TENDERS

* Indian BPCL’s tender to buy cargoes loading Oct. 25 to Nov. 5 was awarded to Total for a cargo of Nigerian Akpo. BPCL also took two sour cargoes from outside the west African region, traders said.

* India’s IOC awarded its November loading tender to Total for 4 million barrels of West African crude. Grade details did not emerge. (Reporting By Julia Payne; Editing by Edmund Blair)

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