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Angolan trading quickens, while India buys Akpo

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Reuters LONDON

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

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

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