West Africa Crude-Grades Steady, IOC Awards Tender


Enterprise Television – Angolan crude differentials were steady on Wednesday while Nigerian crude was heard to be in ample supply, potentially weighing on differentials.


* About 12 cargoes of January-loading crude are still available, traders said.

* Angola’s Sonangol was offering Dalia at dated Brent minus 30 cents and Pazflor at dated minus 20 cents, unchanged from Tuesday.


* Nigerian crude is in ample supply with about 30 January-loading cargoes looking for buyers.

* Despite this, offer levels were on the high side. Total was offering Qua Iboe for January loading at dated Brent plus $1.70, higher than an offer level reported on Tuesday.


* Indian refiner Indian Oil Corp. was heard to have bought cargoes of Kissanje and Agbami from Eni and Chevron in its latest tender.

* Uruguay’s Ancap is running a tender to buy West African oil for February delivery that closes this week.

Source: Reuter