Angolan trading quickens, while India buys Akpo

Image
Reuters LONDON
Last Updated : Sep 27 2016 | 9:42 PM IST

LONDON (Reuters) - Oil prices slid on Tuesday as Saudi Arabia and Iran dashed hopes that producer nations would reach a deal to curb crude output during informal meetings in Algiers.

A helicopter crashed en route to a Chevron oil platform in Angola, killing at least four. Sources said there was not expected to be an impact on production or cargo loadings.

NIGERIA

* Shell has not declared force majeure on Bonny Light crude loadings despite the closure of the Trans Niger Pipeline due to a fire. It has not yet issued revised loading programmes.

* A cargo of end-October loading Akpo was set to sail for India after Shell won a mini tender to supply refiner IOC.

* A November Akpo programme showed four cargoes set to load.

* Qua Iboe loadings were expected to start this week, though the grade, along with Forcados, was still under force majeure.

* The Ottoman Nobility, the South Sea and the Aspen Spirit suezmax tankers were all en route to the Qua Iboe terminal.

* While some buyers were put off by the unpredictability of Qua loadings, India's HPCL has booked the Desh Vibhor to load Qua Iboe at the end of October.

ANGOLA

* Several cargoes of Angolan oil traded, including Total selling cargoes of Girassol and Dalia, Sonangol selling Dalia and Chevron selling Cabinda.

* A U.S. buyer took BP's cargo of CLOV to an unnamed buyer, which sold a day earlier.

* State oil company Sonangol was still offering three November-loading cargoes, including Saturno, Girassol and Nemba.

TENDERS

* Shell won a tender to supply India's IOC with one million barrels of Akpo.

* BPCL is expected by Wednesday to award a tender to buy crude for November loading.

* Indonesia's Pertamina was also looking to buy crude oil via tender, traders said.

(Reporting By Libby George; Editing by Susan Fenton)

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Sep 27 2016 | 9:29 PM IST

Next Story