LONDON: Nigerian crude exports looked set for a boost on Tuesday after repairs to a key pipeline were completed, while traders in the Angolan market were focused on term allocations for December cargoes.
NIGERIA
Repairs to Nigeria's Nembe Creek Trunk Line, which exports Bonny Light, are complete, operator Aiteo said on Tuesday.
Force majeure remained in place, Shell said on Tuesday, but a source said it could be lifted as early as Wednesday. A loading programme has yet to be issued, a trader said.
Offers of Nigerian crude were moving lower. Statoil was offering Usan on a delivered basis at dated plus $1.60, down 5 cents from a similar offer on Monday.
Forcados was offered at dated plus $1.90, while a trader put the value 40 to 50 cents below that.
Forcados shipments appear to be delayed. One trader said there were delays of 4-5 days.
ANGOLA
State oil company Sonangol has yet to show spot offers for December because it is still busy with term allocations.
Exports are set to rise in December to 49 cargoes from a 13-month low of 47 cargoes in November, a preliminary programme showed on Monday. The total could end up closer to 51, one trader said.
There are up to 10 November cargoes left.
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