http://af.reuters.com/article/chadNews/idAFLDE6A225N20101103
* At least 4 large Asian buying tenders open for Jan sweets
* Nigerian Qua Iboe assessed around dated Brent plus $1.60
* Only a handful of Angolan cargoes available for December
LONDON, Nov 3 (Reuters) - West African crude oil
differentials were steady to a touch stronger on Wednesday,
supported by robust Asian demand and relatively tight supplies
for most grades.
All but two of the cargoes loading in December of Nigerian
benchmark Qua Iboe were reported to have been sold and only a
small handful of Angolan crude grades were still for sale.
A couple of the Nigerian crude oil streams -- Escravos and
Forcados -- were reported to be experiencing delays, traders
said.
At least four large Asian buying tenders were open, mostly
for sweet crude for January arrival, and several of these will
be met by Nigerian crude or a combination of Nigerian and other
West African grades.
"Nigerian values have certainly tightened further this week
after a bit of a jump in the middle of last week," said a trader
at a large U.S. major.
NIGERIA
* Qua Iboe: Exxon and Trafigura were both reported to be
offering cargoes, loading Dec. 29-30 and Dec 25-26 respectively,
at above dated Brent plus $1.65. All other stems are now
committed, traders said, noting that Cepsa had taken at least
two cargoes as they had apparently been unable to buy Escravos
lifting in December, while other cargoes had gone to Sun,
India's BPCL and Petrochina.
* Qua Iboe was assessed at around dated Brent plus $1.60
with the last deal reported to be a sale by Gunvor to Sun at
between dated Brent plus $1.60 and $1.65.
* Brass River: a part-cargo loading Dec. 5-6 was reported to
have been sold into the Mediterranean. At least two other
cargoes were said available, indicating around dated Brent plus
$1.40 with buyers 10-15 cents lower.
ANGOLA
* Cabinda: Sonangol was reported to have sold two cargoes,
loading Dec. 12-13 and Dec. 24-25, indicated as recently as
Tuesday, traders said, with the last deal done around dated
Brent minus $1.20 between unidentified parties.
* Girassol: Sonangol was said still to be indicating a
Girassol loading Dec. 30-31 at around parity with dated Brent, a
level considered much too high for buyers who were pitched at
around dated Brent minus 20 cents.
* Nemba: Eni was said to be indicating a cargo loading Dec.
24-25. Traders generally valued this cargo at around dated Brent
minus 30 cents.
* Kissanje: Exxon was said to have sold its cargo loading
Dec. 21-22, the last cargo offered for December. Kissanje was
assessed at around dated Brent minus 90 cents.
ASIAN TENDERS
* State-run Indian Oil Corp.'s second buying tender for
January closed on Wednesday and an award was expected on
Thursday. Its first buying tender for January was reported
awarded to Shell and Vitol, traders said. Shell was reported to
have won the tender with a VLCC of Nigerian EA and Equatorial
Guinean Zafiro, while Vitol offered a VLCC of EA and Angolan
Kissanje. Prices were not reported.
* India's second largest state-run refiner, Bharat Petroleum
Corp (BPCL), has issued a tender to buy up to 1.0 million
barrels of sweet crude for January loading. The tender closes on
Nov. 8, with bids remaining valid until Nov. 10. In its previous
tender, BPCL bought 1 million barrels each of Nigeria's Agbami
and Qua Iboe grades for December loading from oil trader Vitol.
* Petral, the trading unit of Indonesian state-run
Pertamina, has issued a tender to buy sweet crude for January
delivery, a trader said on Wednesday. Grades the company sought
include Qua Iboe, Escravos and Bonny Light. All cargoes will be
delivered to Balikpapan or Cilacap terminals. The tender will
close on Nov. 8 with bids staying valid until a day later. Last
month, Petral bought a total 3.8 million barrels of sweet crude
for December delivery, the highest in at least a year.
* Thai refiner and petrochemical firm IRPC has issued a
tender seeking sweet crude for delivery in the first half of
January, a trader said on Wednesday. IRPC plans to buy 600,000
to 1 million barrels of crude. The tender closes Nov. 4 with
bids remaining valid until a day later.
For a database of oil supply and demand fundamentals
upstream and downstream, Reuters subscribers can click here
(Reporting by Christopher Johnson; editing by William Hardy)
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