W. Africa Crude-More Indian tenders to mop up overhang

PUBLISHED: Tue, 06 Apr 2021 16:46:02 GMT

LONDON, April 6 (Reuters) – Spot trade was quiet on Tuesday despite a flurry of offers while new tenders were expected to mop up some of the overhang.


* Exxon Mobil was offering Qua Iboe cargoes loading in May at dated Brent plus 10 cents. The company was also showing Chadian Doba at dated Brent plus 80 cents and Equatorial Guinean Zafiro at dated Brent plus 30 cents.

* Gunvor was offering an end-May loading cargo of Qua Iboe at dated Brent plus 30 cents while Eni was showing a cargo of Forcados at dated Brent plus 70 cents.


* State company Sonangol was still offering a cargo of Saturno at dated Brent minus $1.50, loading May 18. It sold a cargo of Cabinda to Asia at the end of last week.

* Exxon was offering a cargo of Kissanje at dated Brent minus 60 cents.


* South Africa’s Sasol issued a buy tender, seeking crude for May 24-25 delivery, closing April 6.

* India’s IOC bought Norwegian grade Johan Sverdrup for the first in its latest tender for crude loading May 27 to June 5.

* India’s IOC issued two new tenders for west African crude loading in early June. Both close April 8.


* Indian state refiners will buy 36% less oil from Saudi Arabia in May than normal, three sources said, in a sign of escalating tensions with Riyadh even after the Kingdom supported the idea of boosting output from OPEC and allied producers last week. (Reporting by Julia Payne Editing by Paul Simao) ))

(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.