Angolan crude oil differentials steady
ANGOLAN crude differentials were steady on Tuesday as the holiday period prompted traders to delay purchases until the new year.
Angola’s state oil company Sonangol was still offering two Dalia cargoes at dated Brent plus $2.90, and a Gindungo at dated Brent plus $2.00 loading February 15.
It was also offering a Hungo at dated plus $2.50 loading Feb. 27 and an Olombendo at dated Brent plus $4.00 loading February 26, according to Reuters.
Several Angolan January loading cargoes were still on offer on a delivered basis to Asia.
India’s HPCL has issued a buy tender for cargoes loading
Feb. 10-20 or for March 10-20 delivery, with bids remaining valid until December 31.
Venezuelan state oil company PDVSA’S contract to operate Curacao’s 335,000-barrel-per-day Isla refinery will end on Dec. 31, despite an earlier agreement to extend the contract by a year, the Caribbean island’s authorities said.
RDK and industrial commodities conglomerate Klesch Group have finalised a deal to take over the refinery.
Reuters reported on Monday that freight rates continued to climb, weighing on spot demand, while the holiday period has prompted traders to put off purchases to the new year.