West African crude differentials remained under pressure on Tuesday due to plentiful supply, despite outages reducing Nigerian exports.
ANGOLA: * About 10-12 cargoes of July-loading Angolan crude are still unsold, traders said, a relatively large number for this point in the monthly trading cycle.
* Dalia: Sonangol was heard to have sold a cargo recently to Repsol. The cargo was offered at a weak level of dated Brent minus $1.50, a trader said. * The August loading programme should appear in the next few days.
NIGERIA: * More than 25 cargoes were still available for sale from the July programme, a trader said, enough to keep differentials under pressure. * Shipments of Bonny Light remained subject to force majeure, according to a Shell spokesman on Monday.
TENDERS: * Indian Oil Corp. was heard to have bought 4 million barrels of West African crude from Chevron and Total in its latest tender and has issued a new tender for August crude, a trade source said. Reuters
