– Angola’s state oil company offered a number of May-loading cargoes on Tuesday while Nigerian differentials remained under pressure from ample supply.
ANGOLA
* State oil company Songanol offered at least five cargoes on Tuesday, including Dalia at dated Brent minus 75 cents, Hungo at dated minus 40 cents, Saturno at dated minus 65 cents, Sangos at dated minus 30 cents and Gimboa at dated minus 60 cents.
* These cargoes were first offered on Monday and the offers are unchanged. One potential buyer was awaiting lower offers.
* The May loading programme lists 1.49 million barrels per day (bpd), or 48 cargoes, up from April’s 1.47 million bpd, or 46 cargoes.
NIGERIA
* There is a sizeable unsold volume of 25-30 cargoes for April loading, one trader said, though about 12 of these are thought to be with Shell and Total and therefore likely to be absorbed by those companies’ refineries.
* Qua Iboe was offered at dated Brent plus $1.60 a barrel, stable from Friday when the asking price was lowered by 40 cents to tempt buyers.
TENDERS
* Thailand’s PTT, Indian Oil Corp and Taiwan’s CPC are all running buy tenders that could absorb West African crude this week. See for further details. (Reuters)
