* Qua Iboe assessed weaker around dated plus 90-95 cents
* Indonesia buys no W. African but three Indian tenders open
* Nigeria president wants rebel leader freed, spokesman says
LONDON, July 10 (Reuters) - West African crude oil
differentials slipped a little on Friday with a wide range of
Nigerian cargoes available for August lifting and demand fairly
soft from Asian and U.S. buyers.
Traders were keeping a close eye on political developments
in Nigeria after a spokesman for President Umaru Yar'Adua said
he wanted a suspected rebel leader to be freed soon after he
welcomed a government amnesty offer.
Henry Okah, on trial for gun-running and treason, is the
suspected leader of the rebel Movement for the Emancipation of
the Niger Delta (MEND), which has been responsible for attacks
that industry sources say have cut 300,000 barrels per day of
production in the last six weeks. [nLA419240]
"It is a positive step if it reduces attacks," said one oil
trader with a large European refiner. "But it will be a while
before we know the impact, and anyway it will take some time for
repairs after the recent incidents."
NIGERIA ATTACKS
* Brass River exports remained under force majeure by
Italian oil company Eni (ENI.MI) on Friday after rebels
sabotaged oil pipelines. Eni said the attack caused a production
loss of about 24,000 barrels per day.
NIGERIA
* Benchmark Qua Iboe BFO-QUA was assessed around dated
BFOE plus 90-95 cents fob after two recent sales earlier this
week that traders said produced netback values at around this
level. Best sellers for August lifting were reported at around
dated plus $1, with buyers potentially moving up from around
plus 60 cents towards plus 80 cents.
* Bonny Light was reported discussed around dated plus 80
cents, still at a discount of around 15 cents to Qua Iboe.
* Brass River was assessed at around a 30-cent discount to
Qua Iboe and was out of favour with traders due to its
unreliability, with Amenam seen as a good alternative.
* Escravos was assessed around dated BFOE plus 60-70 cents.
* Agbami for loading at the end of August was reported on
offer around dated plus 60 cents, with no bids reported.
* Forcados cargoes originally due to load in July are now
expected to be delayed to August and September. The grade is now
under force majeure.
ANGOLA
* Glencore was reported to have sold its Hungo for loading
Aug. 27-28 on Thursday, possibly at around dated minus 80 cents
to $1.00. Traders said the cargo had been offered at dated minus
50 cents.
INDIAN TENDERS
* Indonesia's Pertamina opted not to buy West African crude
in its latest tender, choosing instead a cargo of Nile Blend.
The purchase brings the total for September arrival to 5.35
million barrels. Pertamina, which has been issuing two sweet
crude tenders each month over the past six months, has decided
not to issue a second tender for September. Earlier this week,
Pertamina bought two cargoes of Qua Iboe, one cargo of Escravos
and one cargo of Bonny Light, trade sources said. [nSP507457]
* Bharat Petroleum Corp is seeking up to 2 million barrels
of sweet crude for August-September deliveries and 1 million
barrels of sour grade for September loading. Offers remained
valid until Friday. [ID:nDEL492662]
* India's state-run Hindustan Petroleum Corp has issued a
regular monthly tender seeking sweet crude oil for September
loading. Bids remain valid until July 15.
* Mangalore Refinery and Petrochemicals Ltd. has issued a
tender to buy 650,000 barrels of crude oil for Sept. 1-15
loading. Offers will remain valid until Tuesday.
(Reporting by Christopher Johnson; editing by Mark John)
