W. Africa Crude-Nigerian offers rise on European refining margins

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, Jan 30 (Reuters) - Offers for Nigerian and other lighter crude grades kept inching higher on Monday as European refining margins for gasoline neared three-month highs.
* More frequent tendering from South Asia after a wane earlier in the month and December was also supporting differentials, traders said.
* Nigerian Qua Iboe crude was being offered for dated Brent plus $3.50 a barrel.and above while Escravos was being offered for dated Brent plus $5.50.
* Zafiro crude from Equatorial Guinea was being offered for dated Brent minus $1.30.
* Heavier crude grades from elsewhere in the region continued to be offered low as Chinese buying had yet to pick up strongly.
* Total last offered a cargo of Congolese Djeno at dated Brent minus $3.50.
* Angola's state firm Sonangol still had three March spot cargoes on offer: Mostarda, Kissanje and Girassol.
* Uruguay's ANCAP issued a buy tender for a March 26-30 arrival cargo. The tender closes on Feb. 2.


* Maurel & Prom issued a sell tender for Rabi Light for March loading closing on Jan. 31.


RELATED NEWS
* An OPEC+ panel is likely to recommend keeping the oil producer group's current output policy unchanged when it meets this week, four OPEC+ delegates told Reuters on Monday.
(Reporting by Noah Browning; Editing by Shailesh Kuber)


W Africa Asia crude exports, monthly New African oilfields speed guide crude speed guide
NYMEX crude ICE crude North Sea crude oil oil products derivatives European products Latest ICE Latest NYMEX ))))
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.