Nigerian crude spot trade dwindles as new programmes due to emerge

Spot activity dwindled on Monday as traders awaited the new March Nigerian loading programmes that are expected to emerge this week, while India’s IOC mopped up some cargoes via a tender.

BP was said to be offering a cargo of February-loading Nigerian Escravos at dated Brent plus $2.10 a barrel. Vitol was said to be offering a cargo of Bonny Light at dated Brent plus $2.00 a barrel. India’s IOC awarded its March 1-10 tender to Total and Chevron, traders said, for two VLCCs.

Chevron was said to be sending Agbami and Escravos while Total would be sending a cargo of Nigerian Akpo and another grade that was not known. India’s IOC issued a new tender for March 22-31 loading that closes on Jan. 17.

SURCE: Reuters