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W. Africa Crude-Angola's Cabinda crude weakens, Nigeria supported by BP bidding

Fri, 07th Sep 2018 17:04

LONDON, Sept 7 (Reuters) - Nigerian crude grades ended theweek supported by bidding interest from oil major BP, which wasseeking for an unusually large number of cargoes on Friday.

Elsewhere, Angola's Cabinda crude weakened.

NIGERIA

* BP re-emerged in the Platts window on Friday, according totraders, bidding for 3 cargoes of Forcados and two cargoes ofBonny Light, Qua Iboe and Bonga each throughout October. As inprevious days, BP was offering to pay dated Brent + $1.70 abarrel.

* BP bought a cargo of Qua Iboe from Vitol at dated Brentplus $1.63 a barrel loading Oct. 12-13 on a fob basis. Thisfollows on two deals on Thursday in which BP bought cargoes ofBonny Light and Qua Iboe from Vitol at dated Brent plus $1.70loading in the first half of October.

* Chevron was heard offering two cargoes of Agbami in thesecond half of October at dated Brent plus 20 cents, and Shellwas offering one cargo of Agbami.

* Qua Iboe was being offered at dated Brent + $2.00 abarrel, traders said.

* Sahara bid for a cargo of Brass River loading Oct. 20-25at dated Brent +1.00 a barrel.

ANGOLA

* Chevron was offering a cargo of Cabinda at dated Brentplus 60 cents loading Oct. 19-20. That was 5 cents weaker thanprevious asking prices.

* Eni and Unipec were still offering Olombendo, and Totalwas showing Gindungo, traders said.

TENDERS

* India's IOC issued a buy tender for west African crudeloading Nov. 5-15 or for Dec. 3-12 delivery. The tender closeson Sept. 11 and remains valid until Sept. 12.(Reporting by Julia Payne and Dmitry Zhdannikov; Editing byLouise Heavens)))

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