Africa-Oil-Story

LONDON, Jan 19 (Reuters) – Angola will export more crude oil in March, according to the official loading schedule issued on Tuesday, while loading delays appeared to be mounting for some Nigerian grades.

Angola plans to export 57 crude cargoes in March, or about 1.77 million barrels, according to the loading schedule which confirmed figures given on Monday by trade sources, up from 1.69 million bpd in February.

A number of Nigerian grades were said by traders to be suffering from loading delays and making buyers wary. It was not immediately known if weekend pipeline attacks had led to additional loading issues.

Nigeria’s state oil company, NNPC shut down crude flows to the Kaduna and Warri refineries after the pipeline attacks, an NNPC spokesman said.

ANGOLA

* There are around four cargoes left for February, traders said, down from Monday’s assessment.

* Offers of March cargoes have started to appear. Sonangol was offering a March-loading cargo of Dalia at dated Brent minus
$3.90, about 50 cents higher than the last known offer.

NIGERIA

* There are roughly 20 Nigerian February-loading cargoes still available, traders said.

* Bonny Light loadings are still delayed as a result of the Trans Niger Pipeline closure. A trader said other grades were also facing delays.

* Qua Iboe was valued at around dated Brent plus 60 cents, in line with indications on Monday, although offers are heard to be higher than dated plus $1.00.

ASIAN TENDERS

* Indian Oil Corp is running a buying tender for sour crude grades this week.

(Reporting by Alex Lawler; Editing by Mark Heinrich)

Author: vishu

Editor