W. Africa Crude-Pertamina issues buy tender

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, Feb 28 (Reuters) - Chinese buying had yet to kick in for April-loading Angolan crude grades while a buy tender from Indonesia's Pertamina could help mop up a large overhang of Nigerian cargoes.


* Pertamina issued a buy tender for May-arriving crude set to close on Wednesday.
* Angola's state oil firm Sonangol last offered three spot cargoes loading in April: Girassol at dated Brent plus $3.20, Cabinda at dated Brent plus $3.00, and Dalia at dated Brent plus 20 cents a barrel.
* Taiwan's CPC closed a buy tender for May-arriving crude, opting for U.S. WTI Midland over West African grades.
* Around 20 March-loading cargoes of Nigerian crude remained unsold, traders said.


RELATED NEWS
* OPEC oil output rose in February led by a further recovery in Nigerian supply, a Reuters survey found on Tuesday, despite strong adherence by top producers to an agreement by the wider OPEC+ alliance to cut production to support the market.


* Oilfield firm Baker Hughes Co said on Tuesday it has been awarded a contract to supply subsea equipment and services to Angola-based firm Azule Energy for work in the Agogo oilfield. (Reporting by Noah Browning; Editing by David Gregorio)


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