Monday, June 21, 2021

    W. Africa Crude-Cargoes clear, IOC tender result awaited

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

    LONDON, Nov 6 (Reuters) – Traders said Nigerian cargoes were
    clearing fairly swiftly on Wednesday though the closing of an
    Indian tender put the brakes on fresh offers.

    * Nigerian Escravos was largely sold out with one lingering
    cargo loading Dec. 26-27. Offer levels had been around dated
    Brent plus $3.50.
    * Exxon Mobil was offering a cargo of Nigerian Usan at dated
    Brent plus $1.00.
    * Bonny Light and Qua Iboe were being shown in high plus
    $2.00s over dated Brent.
    * Angola’s state firm Sonangol sold its 750,000-barrel cargo
    of Gimboa to an Asian buyer after offering it around dated Brent
    plus $2.00.
    * Total was offering at least four December loading cargoes
    – CLOV at dated Brent plus $2.90, Mostarda at plus 90 cents,
    Girassol at plus $3.10 and Pazflor at plus $2.30, traders said.
    * Around 15 Angolan cargoes remain from the December

    * Indian Oil Corp is running a buy tender closing Nov. 7 for
    West African crude loading Jan. 1-10.

    * Total is seeking to sell its 12.5% stake in a
    major deepwater oilfield off the coast of Nigeria, industry and
    banking sources said, in an effort to adjust the energy
    company’s Africa portfolio amid a broad expansion.
    * Nigeria’s President Muhammadu Buhari signed a bill into
    law on Monday that amends legislation on agreements related to
    offshore oil production, according to the president’s Twitter

    (Reporting By Julia Payne; Editing by Kirsten Donovan)

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