West Africa Crude: More Nigerian programmes for June issued

crude oil prices

More of Nigeria’s crude oil loading programmes for June were trickling out on Monday, while talk of weaker Chinese demand was heard to be weighing on Angolan cargoes.

ANGOLA

* The Angolan loading programme for June was issued last week and includes 52 cargoes, or 1.67 million barrels per day, higher on a daily basis than May’s schedule.

* State firm Sonangol has placed 13 cargoes in term deals and sold another, thought to be of Dalia, before the programme was issued, a trader said.

* Dalia was being offered by other sellers at dated minus 60 cents on Monday, a trader said, although he expected deals to be done at lower levels.

* BP was offering a cargo of Saturno at dated Brent minus 80 cents, unchanged from Friday.

NIGERIA

* The bulk of the June loading schedule has been issued to the market and some of the key grades look set to load fewer cargoes.

* Exports of Qua Iboe will ease to 220,000 barrels a day, a schedule seen by Reuters on Monday showed.

* In addition, four cargoes of Escravos and seven of Agbami will load in June, traders said, down from five and eight respectively in May.

* Aside from the pending programmes, traders say as many as 20 cargoes of May-loading crude were still available.

TENDERS

* Several Indian refiners are running buying tenders this week, including MRPL, HPCL and BPCL.

* Indonesia’s Pertamina is running a buying tender for the second half of 2017 that closes on Tuesday.

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