An­golan crude oil dif­fer­en­tials steady

The Punch - - ENERGY -

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.

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