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WAfrica Crude-Angolan prices fall, some turn negative
GENEVA, Aug 24 (Reuters) - Angolan crude oil differentials
were assessed slightly lower on Friday, with some grades moving
to discounts to dated Brent, due to ample volumes for October.
The West African country's exports are due to jump by around
100,000 barrels per day (bpd) to 1.67 million bpd due partly to
higher supplies of the Girassol grade after a force majeure.
"The cargoes that are selling are at lower levels than
September," said a West African trader.
The dip came despite ongoing Asian buying for West African
cargoes. Taiwanese refiner CPC awarded four Angolan cargoes for
loading in October, traders said.
NIGERIA
* Traders said spot trade was slow on Friday, with traders
still concluding the details of their NNPC allocations for the
month.
ANGOLA AND OTHERS
* Pazflor: At least one cargo for this grade was heard sold
at a discount of around 30-40 cents to dated Brent after being
offered at flat earlier this week.
* Jubilee, Ghana: Due to load three cargoes in October.
* Ceiba, Equatorial Guinea: Due to load in October. Two were
allocated to Hess.
TENDERS
* CPC awarded four Angolan cargoes into its tender for
loading in October, traders said. These were three Cabindas and
a Palanca, they said.
* India's BPCL bought a Bonny Light from Shell and an Akpo
cargo from Vitol as part of its tender for loading in the first
half of October, traders said.
* MRPL issued a tender for a 600,000 barrel cargo for
loading Oct. 1-15, a document showed. It will close on Aug. 23,
with offers valid until Aug. 27.
DATABASE
For a database of oil supply and demand fundamentals
upstream and downstream, Reuters subscribers can click on:
here
(Reporting by Emma Farge; Additional reporting by Simon Falush
and Christopher Johnson; Editing by Jane Baird)
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