W. Africa Crude-Angola issues May allocations

PUBLISHED: Fri, 26 Mar 2021 16:48:53 GMT

LONDON, March 26 (Reuters) – Angola’s state oil firm Sonangol released its May allocations on Friday, while demand remained depressed, particularly in Europe, due to COVID-19 travel restrictions.

* Sonangol is offering two cargoes on a spot basis for May – a cargo of Saturno loading May 18-19 at dated Brent plus $1.00 and a cargo of Cabinda loading May 8-9 at dated Brent plus 80 cents a barrel.

* Oando did not return to window to offer its cargo of Pennington though the cargo remained unsold.


* The Suez Canal stepped up efforts on Friday to free a stuck mega vessel, after an earlier attempt failed to end a blockage that has lifted shipping rates for fuel tankers and disrupted global supply chains for everything from grains to baby clothes. (Reporting by Julia Payne; Editing by Shinjini Ganguli) ))

(c) Copyright Thomson Reuters 2021. Click For Restrictions – https://agency.reuters.com/en/copyright.html

Sign Up for Our Newsletter Daily Update
Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.