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
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