Several Nigerian cargoes from the May programme traded, but market activity was limited overall.
* Sonangol sold one of the four Dalia cargoes it was offering to a western buyer, a trade source said. It had been offering Dalia at dated Brent minus 75 cents, though details on the sale price were not immediately available.
* The company was still offering three other Dalia cargoes, as well as Sangos for May 21-22 loading at dated minus 30 cents and Saturno for May 20-21 loading at dated minus 65 cents.
* China’s Sinochem had also sold a cargo of Pazflor to Total.
* Offers of U.S. and Russian crude in China were limiting demand for West African oil in that country, though sellers were finding outlets elsewhere.
* Less than half of the May programme had yet to trade, though traders said differentials would have to weaken because of rising freight rates, strong dated Brent and a wide gap between the prices of Brent and Dubai crude. * Several Nigerian cargoes also traded. * ExxonMobil sold a cargo of Erha to BP. The price was not clear, but Exxon had been offering Erha at a $2 a tonne premium to dated Brent.
* Sahara also sold a May-loading cargo of Erha to BP, traders said, while Shell purchased an early May cargo of Amenam .* Offer levels for Nigerian oil had slipped, with Forcados offered at roughly $1.60 a barrel above dated Brent. Last month Forcados was offered as high as $2.50 a barrel above Brent.
TENDERS
* India’s IOC was running a tender to buy West African oil for loading in late May. The tender closes next week. * In its last tender it booked Nigerian Escravos, Agbami and Akpo, traders said. It also took a cargo of Angolan Saxi from Statoil in a mini-tender last week.
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