SweetCrude Weekly Edition

25 Nigerian June cargoes remain unsold - Report

- SAM IKEOTUONYE, with agency reports

Lagos -- About 25 or more of Nigeria's June crude oil loading cargoes remained unsold as at the weekend, according to reports.

"Sales did not appear to be picking up swiftly as around 25 or

more June loading cargoes were heard to remain, despite higher European gas cracks and an uptick in U.S. imports ahead of peak driving season," a Reuters report said.

A force majeure by Total affecting the Amenam stream was reported to be causing major loading delays of around 25 days.

This is in addition to another outage since Monday last week, caused by a leak on the Nembe Creek Pipeline loading the major Bonny Light grade, which caused much less severe delays.

As for Angola, its crude set to load in June was down to its last few cargoes by Friday, traders said, but it struggled to

Newspapers in English

Newspapers from Nigeria