W. Africa Crude-Nigerian supply weighs, programmes in focus

LONDON, May 14 (Reuters) – Nigerian crude differentials were weighed down by an ample supply of June-loading cargoes on Friday, while the release of the July Angolan loading programmes was in focus.

NIGERIA

* Around 25 June-loading cargoes were available, a trader said, in line with views heard on Thursday and a sizeable volume which suggests limited demand.

* Qua Iboe and Bonny Light were last offered at dated minus 20 cents and traded values were thought to be lower. Cargoes are valued at around dated minus 80 cents, according to information from one trade source.

* Nigeria has finalised a list of companies and countries that will take its cargoes through 2023. Only a few June-loading cargoes are still unsold. One trader thought there are just four or five left. The July loading schedule is due out early next week.

TENDERS

* Chevron (NYSE:) won one of the tenders held by Uruguay’s ANCAP, and will supply an end-June loading Nemba cargo, trade sources said. The winner of the second tender had yet to emerge.

* Indian Oil (NS:) Corp. is looking for end-June and early July-loading West African cargoes. The tenders close on May 19.



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