W. Africa Crude-Angolan offers trimmed, Nigerian prices issued

LONDON, Feb 26 (Reuters) – Angolan crude was being offfered at lower differentials on Friday amid sluggish demand, while Nigeria issued its official selling prices for March-loading cargoes.


* China’s Unipec was allocated 10 April-loading cargoes under term deals and has been re-offering at least six amid sluggish demand at home.

* Unipec on Friday was offering Dalia at dated plus $1.00, Gingundo at dated Brent plus 40 cents and Mondo at plus 20 cents. All of these were lower than levels reported on Thursday.

* Unipec was not offering Plutonio on Friday but was believed to have not sold the cargo, and was also offering a Girassol at dated Brent plus $1.55.

* As of late Thursday, no spot cargoes of April-loading Angolan had sold, a trader said, reflecting limited demand as the market structure encourages draws on storage nearby rather than far-flung imports.

* March-loading cargoes of Congolese Djeno had probably not sold out yet amid slow Chinese buying. The April loading programme for the grade emerged this week.


* State oil company NNPC issued its March official selling prices on Friday and kept the prices of Bonny Light and Qua Iboe crude unchanged at dated Brent plus 1 cent and minus 8 cents a barrel, respectively. Indian Oil (NS:) Corp. awarded a buy tender to Total and Shell (LON:), trade sources expected they would supply Nigerian grades although details did not immediately emerge.

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