Friday, September 17, 2021

    W Africa Crude-Traders wait for Jan programmes, Nigerian clears

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    Naija247news Editorial Team
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    LONDON, Nov 15 – A surplus of December loading cargoes has largely cleared thanks to a number of tenders, traders said on Thursday, but there was still no sign of any January schedules.

    * Less than 20 cargoes of Nigerian crude were still available, traders said, with January loading programmes expected to start emerging on Friday.

    * Only a handful of Bonny Light, Qua Iboe and Forcados cargoes were left. Bonny was being shown at a premium to dated Brent of $1.60 to $1.70 a barrel and Forcados at $1.70.

    * December loading Bonga was said to be sold out.

    * The January Angolan programme was not expected to emerge until Monday.

    * Unipec bought a cargo of Angolan Nemba from Chevron.

    * Indonesia’s Pertamina took Qua Iboe and Bonny Light from Total and Escravos from Chevron in its early January delivery tender, traders said.

    * A probe by the Nigerian Senate into whether state oil firm NNPC improperly withdrew money has expanded with the amount under investigation doubling to over $2.2 billion, a committee said on Wednesday.

    * Without another mega-project like Total’s Kaombo on the horizon and fields getting old, Africa’s second-largest crude producer is facing a steep decline unless it can revive exploration in what was once one of the world’s most exciting offshore prospects.

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