August 21, 2012 / 5:12 PM / 5 years ago

WAfrica Crude-Nigerian Qua supplies to rise in Oct.

GENEVA, Aug 21 (Reuters) - Nigerian crude exports for the
benchmark grade are set to rise in October, a loading programme
showed, indicating that Nigerian grades may come under further
pressure.
    Qua Iboe exports are set to rise to 368,000 barrels per day
in October from a planned 317,000 bpd in September, a
provisional programme showed. 
    Angolan oil exports are also projected to be higher in
October, raising questions of whether Asian demand will be
strong enough to drain the extra supplies.
    The spread between Brent-related crude oil grades has fallen
sharply since mid-August to around $3.83 DUB-EFS-1M per barrel
on Tuesday, helping profits on eastern exports.
    
    NIGERIA
    * Qua Iboe: Due to load on 12 cargoes in October versus 10
in September.
    * Usan: Set to load four cargoes in October. One of these
cargoes, assigned to Glencore, was delayed from the September
programme, traders said.
    
    ANGOLA
    * Angolan offers against dated Brent were last seen as
follows: Cabinda +95, Nemba -60, Hungo -140, Kuito -250,
Girassol +100, Dalia/pazflor/ flat, Saxi +30, Palanca +190,
Gimboa +20.
                   
    TENDERS 
    * MRPL bought two 600,000-650,000 barrel cargoes of Gabon's
Rabi Blend crude from Shell for lifting in September and
October.
    * The oil major sold the September cargo at a discount of
about $1.60 a barrel to dated Brent while an October cargo was
sold at a discount of 60-80 cents a barrel, trade sources said.
Both cargoes are sold on Free on Board basis.
    * MRPL also issued another tender for a 600,000 barrels size
cargo for loading during October 1-15, a document showed. It
will close on August 23, with offers valid until August 27.

    DATABASE 
    For a database of oil supply and demand fundamentals
upstream and downstream, Reuters subscribers can click on:
    here

 (Reporting by Emma Farge; editing by Keiron Henderson)

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