WAfrica Crude-Nigeria loadings dip, EG sells to Asia

http://www.reuters.com/article/2012/01/23/markets-oil-westafrica-idUSL5E8CN44N20120123

LONDON, Jan 23 (Reuters)

- Differentials on Nigerian
light sweet crude were supported marginally by the dip in the
March loading programme, while dealing of March Angolan cargoes
slowed down slightly.
Traders said the output of Aseng crude from Equatorial
Guinea has increased and a partial cargo has sailed to Northeast
Asia.

EQUATORIAL GUINEA
* Glencore is marketing all the three cargos of Aseng crude
for March. The first two cargoes carry each 650,000 barrels and
the last carries 950,000 barrels.
* The volume is a rise from one cargo for February.
* The production of heavy-sweet Aseng crude stated in
November. The crude has been sold to a Japanese refiner and
U.S. companies.
* Due to the sulphur content of about 0.25 percent, Aseng
cannot be directly run in oil-fired power plants in Japan, which
burn oil with lower sulphur content.
* Three 1 million barrel cargoes of Zafiro are available for
March.

NIGERIA LOADING
* The preliminary loading schedule showed Nigeria would
export about 1.87 million barrels of crude oil per day in March,
a 3 percent drop from February. The figure does not include
condensate.
* The programme include two Pennington cargoes. Nigeria's
NNPC holds one of them, suggesting it may trade in the spot
market.
* The Akpo programme has not been released. But traders
expected 5 cargoes would be available for March.
* Nigeria has raised the official selling price of Qua Iboe
and Bonny Light crude oil by 30 cents a barrel to dated Brent
plus $2.80 in February from January.
* Trading of March Nigerian cargoes have been limited. Some
traders said BP might have bought Qua Ibo. But this was not
confirmed.
* Traders said Indian refineries have already covered their
March requirement after purchasing about 12 cargoes via tender.
* More than 5 cargoes of February cargoes are still
available to sell, traders said.

ANGOLA
* Trading of Angolan Pazflor crude was particularly slow,
with some of the cargoes seen going to home refining systems.
* China's Unipec has bought 14 Angolan cargoes via term and
spot and one Ceiba from Equatorial Guinea. Two of them have been
sold again.
* CNOOC bought two Dalia cargoes. Statoil's Dalia cargo for
Feb. 29-30 has not been sold, traders said.
* Roughly 15-17 cargoes of 52 cargoes for March loading have
not been sold.

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(Reporting by Ikuko Kurahone)