LONDON: Bonny Light production is down by some 170,000 barrels per day (bpd) due to recent attacks, according to a source familiar with the matter, while total Nigerian production is down by at least half a million bpd.
Three of Total's French refineries are in restart mode early this week after industrial strikes forced the company to close them last month. * Oil tanker owners are expecting moves by China to fill up strategic crude stocks to boost rates.
The managing director of Chevron's Angola subsidiary said he supports the direction of state oil company Sonangol after President Jose Eduardo dos Santos appointed his billionaire businesswoman daughter Isabel as head last week in a shake-up that cements his grip on power.
ANGOLA
Traders said Chevron sold a cargo of Agbami at roughly 75 cents above dated Brent, as well as a cargo of Pazflor at a $3.50 per barrel discount.
Cargoes had traded more quickly than expected as demand in the east firmed.
Fewer than 10 July loading cargoes remained.
NIGERIA
Traders said there had not been recent offers of Bonny Light, and that the last cargo had loaded in late May.
Offers for Qua Iboe were about a $1.90 per barrel premium to dated Brent, but traders said sale prices would have to be well below that level.
While ExxonMobil lifted force majeure on Friday, buyers were wary of agreeing to purchase the barrels due to frequent changes to the loading dates.
TENDERS
Unipec won a tender to supply Indonesia's Pertamina with 600,000 barrels of Coco crude, sources said. Pertamina has launched another tender to buy August-delivered oil.
India's IOC has a tender pending to buy West African crude for Aug. 1-10 loading.
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