W. Africa Crude-Angolan cargoes linger as demand remains slack


LONDON, Jan 6 (Reuters) – Sellers of Angolan crude were
offering several cargoes on Monday as activity remained subdued
after the holidays.

* As many as 20 of Angola’s 38 cargoes for February are for
sale of which four are re-offers, traders said, a large volume
for this stage in the monthly trading cycle
* State oil company Sonangol was still seeking to sell
cargoes of Gindungo, Hungo, Olombendo and Dalia. The latter
crude was offered at dated Brent plus $2.50, steady from Friday
* Backwardation, high freight rates and lacklustre margins
have dampened trading

* Indian Oil Corp. is running two buying tenders this week
for crude for delivery in the first half of March, a trader said
* Turkey’s Tupras closed a tender to buy Bonny Light,
Forcados or Jones Creek for Feb. 25 to March 5 delivery

(Reporting by Alex Lawler
Editing by David Evans)

This site uses Akismet to reduce spam. Learn how your comment data is processed.