LONDON: The Angolan market was more active than the Nigerian, which has been weighed down by alternative light sweet grades and the return of Qua Iboe and Forcados exports in October.
Nigeria's Sahara has put on hold a planned initial public offering and bond sale that was aimed at financing more oil asset purchases until the investment prospects for oil and gas improve. OPEC might still agree an oil output-limiting deal later this year as the economic problems of its de-facto leader Saudi Arabia force Riyadh to cede more ground to arch-rival Iran.
NIGERIA
Nearly 15 cargoes of October loading cargoes were still available with little talk on November ones as traders focussed on the BPCL tender.
Cargoes of Bonny Light crude have been delayed but Shell's local subsidiary has not declared force majeure on exports.
ANGOLA
Three cargoes of Dalia were on offer from Statoil loading Nov. 15-16, Total loading 24-25 and Exxon loading 28-29. The levels were at around dated Brent minus $2.60-$2.70 a barrel, in line with recent trades.
Sonangol offered a cargo of Saturno at dated Brent minus $2.30 loading Nov. 24-25 and Girassol at dated Brent flat loading Nov. 27-28.
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