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WAfrica Crude-Angolan cargoes mostly sold
May 30, 2012 / 4:12 PM / 6 years ago

WAfrica Crude-Angolan cargoes mostly sold

* BPCL awards Libyan, no Nigerian
    * Conoco ships Aseng to U.S. market

    GENEVA, May 30 (Reuters) - Angolan cargoes for July loading
are virtually sold out, traders said on Wednesday, citing strong
demand from Chinese and Asian buyers.	
    "Angola has pretty much cleared. It's very different from
Nigeria and the key to that is that the Chinese are buying
Angolan but not really Nigerian," said a West African oil
    Traders said that trade of Nigerian barrels has picked up
compared with last week but the programme is still clearing more
slowly than usual due to weak U.S. demand.	
    In contrast to recent buying patterns, BPCL did not buy any
cargoes of Nigerian crude for its July-loading tender and
instead bought 1 million barrels of Libyan crude.	
    Rising Libyan output after last year's supply disruptions as
well as weak U.S. demand has sapped demand for Nigerian grades.	
    * Qua Iboe: Traders said that at least two of the July
cargoes were sold but price levels were not disclosed. One
trader estimated the likely range for the benchmark grade at
between dated plus $1.90-$2.10 a barrel.	
    * Pazflor: Traders said that a Pazflor cargo for loading
23-24 July was sold to Reliance at an undisclosed level.	
    * Two Dalia cargoes and a Mondo were also placed in the last
two trading sessions, traders said.	
    * Aseng: Conoco bought a 15-16 July loading cargo of this
grade from Equatorial Guinea for delivery to a U.S. refinery,
traders said, in a rare arbitrage.	
    * Indonesia's Pertamina has issued a monthly tender to buy
sweet crude for August delivery, traders said. The tender will
close on Wednesday, they said.	
    * BPCL has bought 1 million barrels of Libyan Sarir crude
from Japanese trader Marubeni in a tender, trade sources said on
    For a database of oil supply and demand fundamentals
upstream and downstream, Reuters subscribers can click on:	
 (Reporting by Emma Farge; Editing by Anthony Barker)

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