W. Africa Crude-More Nigerian programmes emerge, Angolan differentials steady

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, Feb 24 (Reuters) - More Nigerian export plans for April continued to emerge on Friday while differentials for Angolan crude were largely steady as trading had yet to kick off for the trading cycle.
* Angola's state oil firm Sonangol last offered three April-loading spot cargoes: Girassol at dated Brent plus $3.20, Cabinda at dated Brent plus $3.00 and Dalia at dated Brent plus 20 cents a barrel.
* Africa's second-biggest exporter had yet to fully sell out of its March supplies, with commodities trading giant still offering a partial cargo of Dalia crude on a cost, insurance and freight basis, which has not attracted any buying interest for almost two weeks.
* Steady gasoline stocks in Europe helped drive offer prices for Nigerian crude down around 30 to 50 cents in the last week, traders said.
* The Nigerian Agbami and Escravos streams are set to export three crude cargoes each in April, according to preliminary loading programmes seen by traders.
* Taiwan's CPC closed a buy tender for May-arriving crude, but results did not immediately emerge. RELATED NEWS
* China's top oil and gas major CNPC has completed a months-long reshuffle with the addition of six regional offices that report to the Beijing headquarters to better coordinate and supervise its sprawling global portfolio, three company executives said.


* Russian oil export revenues are set to rise in March as falling freight rates and strong demand push Russian oil prices towards a $60-per-barrel Western price cap, based on calculations by traders and Reuters, challenging the view that the mechanism was increasing pressure on Moscow. (Reporting by Noah Browning; Editing by Paul Simao)


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