Sunday, December 5, 2021

    W. Africa Crude-Higher fuel oil margin buoys Angolan, IOC takes Nigerian

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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, Aug 5 – Higher fuel oil margins and demand from Chinese independent refiners helped to prop up Angolan crude grades on Monday while some Nigerian cleared in an Indian buy tender.

    * Angola’s Girassol was recently offered as high as dated Brent plus $3.00 while Dalia was pegged at around dated Brent plus $2.50.

    * Around 15 cargoes of Nigerian crude remain from the August loading programme. Bonny Light and Qua Iboe were said to be trading below dated Brent plus $2.00.

    * Mercuria still had an August loading Forcados available, traders said.


    * Indonesia’s Pertamina awarded a tender for crude to be delivered Oct. 1-5, Oct. 8-15 and Oct. 22-29 but there were no details yet on who had won the tender.

    * India’s IOC awarded a buy tender to BP for a cargo of Qua Iboe, traders said, expected to load Sept. 11-12.

    * Plains All American Pipeline LP said on Friday it will tack on a fee for users of a new oil pipeline to pay for the cost of the Trump administration’s tariffs on imported steel, with analysts and traders calling it the first U.S. energy pipeline operator to do so.

    * Britain on Monday joined the United States in a maritime security mission in the Gulf to protect merchant vessels travelling through the Strait of Hormuz after Iran seized a British-flagged vessel.

    Reporting By Julia Payne; Editing by Susan Fenton

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