Spot trading thin for Nigerian crude as traders await Pertamina results

Some November cargoes of Nigerian crude were still on offer on Thursday but sellers stayed generally on the sidelines as they awaited a significant tender result.

Up to 10 cargoes are left from Nigeria’s November loading programme. Shell was offering a cargo of Agbami loading Nov. 25-27 at dated Brent plus 30 cents a barrel. Trafigura sold a cargo of Forcados to Total earlier this week.

Nigerian Bonny Light, Bonga and Qua Iboe were offered at around dated Brent plus $1.75 a barrel, unchanged from the previous day, but found no buyers. Indonesia’s Pertamina issued a tender for crude delivered in January and February. The tender closes on Nov. 1 and bids remain valid until Nov. 5.

Source: Reuters

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