Monday, August 2, 2021

    W. Africa Crude-Sasol issues buy tender, spot activity muted

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

    LONDON, Jan 3 – Activity was focussed on a handful of small tenders on Thursday with sellers staying on the sidelines as demand has yet to resurface following the holiday period.

    * Chinese demand has been weaker for the latest month’s cargoes and inventories are high, traders said.

    * State oil firm Sonangol was still offering two cargoes of Dalia at dated Brent minus 30 cents a barrel loading Feb. 17-18 and Feb. 23-24.

    * Nigerian oil marketing firm MRS awarded its sell tender for a cargo of Forcados loading Feb. 14-15 and a cargo of Amenam loading Feb. 10-11 but winner details did not immediately emerges

    * South Africa’s Sasol issued a buy tender for a cargo of west African crude loading mid to end-February.

    * Glencore won a buy tender by Astron Energy, its oil refinery in South Africa, with a cargo of Nigerian Okwuibome for early March arrival.

    * High-sulphur fuel oil (HSFO) volumes traded in S&P Global Platts’ Singapore price assessment process nearly halved in 2018 from the previous year, signs of a market shift ahead of tougher global marine fuel rules coming in 2020. (Reporting By Julia Payne; Editing by Mark Potter) ))

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