Spot trading slowed on Tuesday as a string of tenders emerged


Spot trading slowed on Tuesday as a string of tenders emerged.

* India’s IOC took a total of three million barrels of Nigerian crude oil in tenders early this week. The grades included Agbami, Usan and Okwuibome.

* Statoil purchased a cargo of Forcados for April 20-21 loading from Trafigura. Forcados had been offered as high as $2.50 a barrel above dated Brent.

* Chevron had also sold a cargo of Cabinda, a trader said, but further details were not clear.

* The tenders have helped to support differentials, but refinery maintenance was also having a dampening effect on demand.

* Angola’s Sonangol was still offering two cargoes of Dalia at dated Brent minus 70 cents a barrel, Olombendo at dated Brent plus $1.20 a barrel and Saxi at dated Brent plus 75 cents a barrel.

* Nigeria’s April export plan included at least 62 cargoes for a total of 1.85 million bpd, along with an additional 95,000 bpd of Akpo condensates.


* Indonesia’s Pertamina issued a tender to buy crude for April and May delivery. Grades included Aseng, Cabinda, Coco, Olombendo, Bonny Light, Qua Iboe, Pennington, Aseng, EA and Okwuibome, along with other crudes from other regions.

* India’s HPCL issued a tender to buy crude including Angola’s Hungo and Saturno along with Urals and other grades.

* A tender from Indian refiner BPCL for oil loading between April 6-15 closes on Wednesday.

* Uruguayan ANCAP issued a tender to buy oil for end-April delivery, while Thailand’s PTT was also tendering for crude.

* India’s IOC bought a cargo of Agbami from Litasco in a mini-tender on Tuesday. A day earlier, Chevron won another IOC tender with Nigeria’s Usan and Okwuibome, the latter backed by Glencore. (Reporting By Libby George. Editing by Jane Merriman)