LONDON: Spot trade in Angolan cargoes slowed ahead of the release of the January loading programme later this week, while the Nigerian market sagged under the weight of a slew of unsold crude and expensive freight that made shipments to Asia uneconomical.
NIGERIA
* At least 30 Nigerian cargoes are left from the December programme, which originally contained 64 cargoes, although this surplus was smaller than the 35 estimated late last week.
* Diffs held unchanged. Qua Iboe and Bonny Light were last indicated around $1.75 a barrel above dated Brent, which traders said was too high given the size of the unsold overhang.
ANGOLA
* Around half a dozen cargoes are still unsold from the December loading programme, down from eight estimated on Friday. The January programme is expected to be issued later this week.
TENDERS
* Indonesia's Pertamina re-issued a tender to buy West African crude loading on Dec. 1-15. No result has emerged as yet for the tender, which was valid until Monday.
* India's IOC was said to have awarded a tender to buy crude loading on Jan. 1-15 to Chevron and Glencore, for a co-load of Bonga, Agbami and Okwori.
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