November 20, 2018 / 3:47 PM / 8 months ago

W. Africa Crude-Grades steady, Nigerian programmes awaited

LONDON, Nov 20 (Reuters) - West African crude differentials were steady on Tuesday as Angolan state oil company Sonangol finalised its term allocations and traders awaited Nigerian loading programmes.


* About 20-24 cargoes of Nigerian crude were still available, traders said, slightly more than thought on Monday.

* Qua Iboe was last being offered at around dated Brent plus $1.70 a barrel, a trader said, in line with indications reported on Friday. Total was heard to be holding some Qua cargoes.

* There was still no sign of Nigerian schedules or official selling prices. One trader said a public holiday in Nigeria this week might have delayed their emergence.


* The preliminary January Angolan programme was released on Monday and includes 42 cargoes, down from December’s 46. A few more cargoes could be added in the final version.

* Sonangol and other sellers were not yet showing offers. Sonangol was expected to allocate about a dozen cargoes to term customers.

* A few December-loading cargoes are unsold, including the Gindungo and CLOV grades.


* Taiwan’s CPC issued a buy tender for crude loading in January or to be delivered in February. The tender was due to be awarded on Tuesday and the rest is expected to emerge on Wednesday.

* India’s HPCL issued a tender to buy 1 million barrels of crude to be awarded on Nov. 21. (Reporting by Alex Lawler; Editing by Adrian Croft) ))

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