Markets

West Africa Crude-Trade slow due to limited arbitrage opportunities

Published September 26, 2017 Updated September 26, 2017 05:02pm

ANGOLA

Angola's crude oil exports are set to fall to a 13-month low in November after Sonangol deferred one cargo, bringing the total to 47.

About eight cargoes were left from the October programme including cargoes that have been on offer for several weeks such as Chevron's Cabinda, Eni's Olombendo and Total's Nemba.

Unipec was also still offering several cargoes and Statoil was trying to sell crude from two VLCCs.

NIGERIA

There was still no sign of the Bonny Light or Erha programmes. Bonny Light was still under force majeure while Ehra is due to have maintenance in November.

About a dozen cargoes are still left from the October loading programme including around five cargoes of slow-selling Forcados.

 

 

Copyright Reuters, 2017