W. Africa Crude-Flurry of tenders crimps spot trade
LONDON, June 22 (Reuters) – Spot trade for Nigerian crude was limited on Friday as three tenders due to close next week kept sellers on the sidelines, while several August Nigerian programmes had yet to emerge.
* The August programme for Bonny Light and Usan had still not emerged on Friday, traders said.
* BP sold this week its Aug. 1-2 loading cargo of Angolan Plutonio to Cepsa, a trading source said.
* Traders said few Angolan cargoes were on offer, given that the full details of Sonangol’s August term allocations had yet to emerge.
* India’s IOC awarded its latest tender to Chevron for a VLCC of west African crude, traders said.
* Thailand’s PTT, India’s HPCL and Taiwan’s CPC have buy tenders closing next week.
RELATED NEWS
* OPEC agreed on Friday on a modest increase in oil production from next month after its leader Saudi Arabia persuaded arch-rival Iran to cooperate, following calls from major consumers to help reduce the price of crude and avoid a supply shortage.
* Congo Republic, one of Africa’s major oil producers, has joined the Organization of the Petroleum Exporting Countries (OPEC), OPEC said in a statement on Friday. (Reporting by Julia Payne; editing by Andrew Roche) ))
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