London -- Angolan crude oil for export in December had almost cleared as preliminary programmes for sale
in January emerged on Monday.
ANGOLA
* State oil company Sonangol's preliminary export programme
for January listed 43 cargoes for the month, down slightly from
the 47 for December's final programme.
* The initial number is roughly in line with volumes from
previous months, with December exports set originally at 44.
* Around five cargoes or fewer remain from the December
programme, in a smaller glut than normal for this point in the
trading cycle as Asian demand for middle distillates like gasoil
remains robust.
NIGERIA
* Light sweet Nigerian crudes like Bonny Light continued to
be offered at at least a premium of $3.50 above dated Brent,
with one cargo of Qua Iboe even selling recently for $4.00.
* The offers mark five-year highs and come as prices for
comparable grades in the North Sea and Mediterranean spiked at
the beginning of this month.
* The price hikes were even benefiting certain heavier,
sweet grades like Escravos Nigerian crude, traders said.
* Still, a slowdown for European gasoline cracks over the
course of last week appears to have cooled the pace of sales and
buyers expected prices for suitable crudes to fall.
* Between 20-25 Nigerian cargoes are available for sale in
December, a relatively low number reflecting the faster pace of
purchases recently despite higher prices.
RELATED NEWS
* India's Nayara Energy Ltd, part-owned by Russian oil major
Rosneft, imported 12% less oil in October from the
same month a year earlier, according to data from the shipping
industry and sources.
* Sustained economic sabotage by vandals on Nigeria's
oil-exporting Nembe Creek Trunk Line (NCTL) has led to
significant losses in production, operator Aiteo said on Sunday.
