West Africa Crude-Higher fuel oil margin buoys Angolan, IOC takes Nigerian
LONDON: Higher fuel oil margins and demand from Chinese independent refiners helped to prop up Angolan crude grades on Monday while some Nigerian cleared in an Indian buy tender.
* Angola's Girassol was recently offered as high as dated Brent plus $3.00 while Dalia was pegged at around dated Brent plus $2.50.
* Around 15 cargoes of Nigerian crude remain from the August loading programme. Bonny Light and Qua Iboe were said to be trading below dated Brent plus $2.00.
* Mercuria still had an August loading Forcados available, traders said.
* Indonesia's Pertamina awarded a tender for crude to be delivered Oct. 1-5, Oct. 8-15 and Oct. 22-29 but there were no details yet on who had won the tender.
* India's IOC awarded a buy tender to BP for a cargo of Qua Iboe, traders said, expected to load Sept. 11-12.
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* Britain on Monday joined the United States in a maritime security mission in the Gulf to protect merchant vessels travelling through the Strait of Hormuz after Iran seized a British-flagged vessel.
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