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W. Africa Crude-Tenders in focus while trading is slow

PUBLISHED: Mon, 19 Apr 2021 16:22:00 GMT

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LONDON, April 19 (Reuters) – Traders waited to see whether a series of Asian tenders would help alleviate a glut of West African barrels as differentials were steady amid refinery maintenance season and slow sales.

* Traders awaited results of a buy tender from Indonesia’s Pertamina which closed on Friday.

* Taiwan’s CPC and Thailand’s PTT are set to issue new buy tenders this week for July-delivery crude.

* The tenders could absorb a large glut of Nigerian crude.

* India’s IOC purchased at least 5 million barrels of June-loading Nigerian crude in its tender closing on Friday.

* Angola will export at least 36 cargoes in June, with revisions to the provisional programme still expected to add at least a couple more cargoes.

* Up to 10 May loading cargoes of Angolan crude were still available for sale, in an especially slow trading cycle.

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* China boosted the flow of crude oil into storage tanks in March as strong imports and domestic output exceeded an increase in the volume of fuel being processed by refiners.

* Russia’s Rosneft issued a spot tender to sell 90,000 tonnes of CPC Blend crude oil loading from Black Sea’s Yuzhnaya Ozereyevka terminal on May 25-26 in a spot tender, two traders familiar with the tender told Reuters. (Reporting by Noah Browning; Editing by David Gregorio) ))

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