LONDON, Oct 12 (Reuters) – Some Nigerian crude was taken via an Indian tender but spot activity remained thin with freight rates and a backwardated market structure denting Asian demand.
NIGERIA AND ANGOLA
* Vitol returned to the window offering a cargo of Forcados at dated Brent plus $3.40 a barrel on a delivered basis and Bonga at dated Brent plus $3.55 a barrel also on a delivered basis.
* India’s IOC was said to have awarded its latest tender to Chevron and Vitol with a total of 4 million barrels. A trader said that Chevron won with Escravos and Agbami.
RELATED NEWS
* Nigerian ex-head of state Olusegun Obasanjo backed his former deputy on Thursday for next year’s presidential election, ending a public feud that had threatened to undermine the main opposition candidate.
TENDERS
* Indian refiner HPCL was said to have issued a three-month term tender for crude delivering between December this year and March next year. (Reporting By Julia Payne; Editing by Susan Fenton) ))