Sonangol offered cargoes from its April export plan


Sonangol offered cargoes from its April export plan, but spot trading remained quiet on Thursday.

* Angolan state oil company Sonangol was offering four cargoes from its April loading plan, but a source said it had sold two already.

* The grades on offer included Dalia, Olombendo and Saxi.

* While there was firm Chinese demand for early-month cargoes, sources said uncertainty around the nation’s appetite further forward was creating some pressure on differentials.

* No fresh spot trading emerged as many players were out for an industry event in London.

* While firm demand for motor fuels had supported prices during trade of Nigeria’s March-loading oil, refinery margins have since softened. Reference margins in northwest Europe BRT-ROT-REF had fallen by more than $1 per barrel to roughly $5 per barrel on Thursday.

* Repsol had booked the Bordeira to carry Ghanain Jubilee crude oil to Spain, while refinery PTT put the suzemax Petalidi on subjects to load West Africa crude for Thailand on March 12, according to Reuters fixtures data.