W. Africa Crude-Nigerian offers hold strong, Angolan weakening By Reuters


© Reuters. W. Africa Crude-Nigerian offers hold strong, Angolan weakening

LONDON, Sept 12 (Reuters) – Nigerian crude was offered at robust levels on Thursday as sellers hoped to benefit from keener demand from Asia amid rising differentials for North Sea grades.

* Nigerian Qua Iboe was offered at dated plus $3.00 a barrel, a trader said, higher than indications reported earlier this week.

Such an offer is relatively high – Qua has not traded above dated Brent plus $3.00 since 2014 according to Refinitiv data, although traded values at above dated plus $2.50 this year have been the highest since 2014.

ANGOLA

* Around 10 cargoes of Angolan oil remain available for export in October, a higher figure than Wednesday’s estimate, a trader said.

* Differentials for remaining cargoes have been coming under downward pressure. One trader said differentials had eased by 20-30 cents compared to last week.

* The November programme is expected to be issued early next week.

TENDERS

* The validity for two tenders by Indonesia’s Pertamina for light crude cargoes as well as condensate for late November and early December delivery ended on Wednesday, though the winners did not emerge.

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