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    Home » W. Africa Crude-Sonangol said to finalise July term allocations

    W. Africa Crude-Sonangol said to finalise July term allocations

    May 22, 2019
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    London — Angolan state oil company Sonangol has finalised its allocations of July-loading crude to term buyers, traders said on Tuesday, while the number of unsold Nigerian June cargoes was dwindling.

    ANGOLA

    * Two cargoes of June-loading crude are left to sell, a trader said.

    * Sonangol has allocated all of its July-loading cargoes to term buyers and still has a cargo of Mostarda available, a trader said, which is being offered.

    * Dalia: Sonangol sold a cargo of this grade in a tender, due to high demand, a trader said.

    * There has yet to be a spot trade of July-loading crude.

    NIGERIA

    * Around 15 June-loading cargoes of Nigerian crude were still available, lower than Monday’s estimate of around 20.

    * Nigeria’s Trans Forcados pipeline remains closed but no force majeure has been declared, a Shell spokeswoman said on Tuesday after a fire broke out on Sunday.

    * Forcados cargo loadings are experiencing delays, a trader said, although it was unclear how long.

    TENDERS

    * India’s HPCL issued a buy tender for west African crude loading July 1-10. The tender closes on Wednesday.

    * Uruguay’s ANCAP issued a buy tender for a 1 million barrel cargo for July 28 to Aug. 1 delivery closing on Wednesday.

    * Indonesia’s Pertamina issued a buy tender for crude loading in July. The tender also closes on Wednesday and remains valid until May 27.

    • Reuters

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