Monday, May 17, 2021

W. Africa Crude-Dalia trades, Nemba to sail west

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LONDON, April 11 – Sonangol sold another cargo of Dalia, and one cargo of Angolan Nemba will sail to Uruguay, but trading was otherwise limited.


* State oil company Sonangol sold a cargo of Dalia that it had been offering at $1.20 per barrel below dated Brent, likely to Europe’s Statoil, sources said. The buyer could not be confirmed.

* Sonangol lowered its other offers, bringing the remaining Dalia down to a $1.50 per barrel discount to dated Brent, the Sangos to minus 90, down from minus 70, and the Saturno to minus $1.50, down from minus $1.05.

* Angolan cargoes have been in lower demand due to lacklustre buying interest in China.

* China’s Unipec had offered five Angolan grades on a delivered basis in China as well as a cargo of Plutonio at a 30 cent discount to dated Brent.


* No fresh Nigerian trading surfaced, and offer levels remained elevated, traders said.

* Roughly half of the country’s May loading plan, with 64 cargoes of crude, had yet to trade.


* Vitol had won a tender from Uruguay’s Ancap with a cargo of Nemba, traders said. The company was seeking 1 million barrels of oil for mid-June arrival.

* India’s IOC was running a tender to buy several millions of barrels, including West African grades, loading in June and July. It closes on April 13.

* Indian refiner MRPL had a tender to buy 600,000 barrels for June 1-15 loading, which closes on April 10-12.

* Indonesia’s Pertamina was running a tender to buy 600,000 barrels of May-loading oil.


* Sinopec Corp will shut down its largest refinery for maintenance throughout May, and at least four independent oil plants with a combined capacity of 200,000 bpd have started overhauls this month, curbing China’s crude oil demand.

* U.S. crude stocks rose last week while gasoline stocks increased and distillate inventories fell, the Energy Information Administration said.

* Oil hit its highest in more than three years after Saudi Arabia said it intercepted missiles over Riyadh and international tensions over Syria grew. (Reporting by Libby George; Editing by Mark Potter) ))

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