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W. Africa Crude-Buyers await easing of Angolan offers

Thu, 05th Sep 2019 17:32

(Adds that Sonangol sold Dalia cargo)

LONDON, Sept 5 (Reuters) - Asian and European buyerscontinued to show interest in Angolan oil as it sells brisklythis month, but remaining cargoes will need to be discounted tosell, according to some traders.

ANGOLA

* Around 15 cargoes of Angolan oil remain available forexport in October.

* Chinese buyers are on pace to buy much of Angola's supply,and state oil company Sonangol has sold its last cargo of Dalia.Sonangol had lowered its offer level for the cargo this week by10 cents to dated Brent plus $2.90. Details on the final saleprice or buyer did not immediately emerge.

* Heavy sweet crudes remain sought after ahead of rulesmandating low-sulphur fuel oils, but steep backwardation and theall-time high differentials make South American, Middle Easternand Australian oil more affordable for the East.

* A cargo of Mostarda was being offered at dated Brent plus$1.30 and Mondo at dated Brent plus $2.45.

NIGERIA

* High volumes for October loading at the North Sea's newJohann Sverdrup field were causing traders to question some ofthe high offered prices for comparable Nigerian grades.

* Bonny Light and Qua Iboe continue to be offered for ashigh a premium of $3.00 compared to dated Brent.

* Ghanaian TEN and Jubilee were being offered at a premiumof $2.80 and $3.10 compared to dated Brent, respectively.

TENDERS

* India's IOC issued two tenders for loading Oct. 11-20 andNov. 1-10. Winner details had yet to emerge on Thursday.

* Indonesia's Pertamina issued a buy tender for light crudecargoes, including west Africa, for Nov. 1-19 delivery. Itcloses on Sept. 6 and remains valid until Sept. 10.

* Indonesia's Pertamina issued a second buy tender forcondensate cargoes for Dec. 1-5 delivery cargoes. It closes onSept. 6 and remains valid until Sept. 10.

* Both Uruguay's ANCAP and Astron Energy in South Africaissued tenders for crude exporting on October, though detailsdid not immediately emerge.

RELATED NEWS

* Exxon Mobil has agreed to sell its Norwegian oil and gasassets for up to $4 billion, in a move that marks the U.S.firm's exit from production in the country where it has operatedfor more than a century, sources said on Thursday.

* Sinochem Energy Technology Co Ltd, a subsidiary of stateoil and chemicals firm Sinochem Group, is in talks with RoyalDutch Shell and Macquarie Group to build an energy blockchainplatform, sources said.(Reporting by Noah Browning; editing by David Evans)))

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