West Africa Crude-Spot trade quiet, but demand firm for Angolan

LONDON: Spot trading was quiet, but Asian demand continued to clear Angolan loadings.

Chevron sold its cargo of Agbami, for loading Jan. 18-19, but it was not immediately clear who the buyer was.

BP sold a cargo of Angolan Saxi late last week, traders said.

Spot deals were otherwise limited as traders angled for the latest tenders from India's IOC.

Angola's Sonangol had not changed its offers from the previous week. It was offering Olombendo at a 60 cent premium to dated Brent, Dalia at a 20 cent discount and Pazflor at minus 10 cents.

While there is a wide gap between Dubai crude and Brent, which makes crude priced off Brent more expensive to Asian buyers, sources said Chinese buyers are still keen for West African cargoes.

Roughly 70 percent of the Angolan programme for January had already traded, sources said.