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Jun 07, 2020 PRINT EDITION
Markets

Africa Crude-Spot market muted, Pertamina issues tender

LONDON: A sizeable overhang of September-loading crude weighed on the market on Tuesday, with October trading yet to get

August 27, 2019

LONDON: A sizeable overhang of September-loading crude weighed on the market on Tuesday, with October trading yet to get start for Nigerian grades.

* About 15-20 Nigerian cargoes remained from the September programme. Egina was being offered at least $4 above dated Brent, traders said. About three Forcados cargoes remain and Qua Iboe was still on offer at dated Brent plus $2.50.

* A handful of September-loading Angolan crude remained on offer to Asia on a cif basis.

* Indonesia's Pertamina issued a buy tender for crude for November delivery of West African crude cargoes. The tender closes on Aug. 30 and remains valid until Sept. 3.

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* Nigeria will not relinquish assets to a firm registered in the British Virgin Islands after a court ruling related to a dispute over a $9 billion gas project, the West African country's information minister said on Tuesday.

Copyright Reuters, 2019