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WAfrica Crude-Mostly thin, some Angola moves

Thu 3 Jul 2008, 14:38 GMT
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LONDON, July 3 (Reuters) - Dealing of August West African crude was relatively thin on Thursday as traders still awaited the completion of Nigerian loading programmes.

Traders said the August loading dates of Erha and Bonga were not available yet.

On the Angolan market, Girassol cargoes for August 16-17 and 19-20 were sold. These deals were not confirmed.

The price for Girassol was assessed at dated Brent minus about $2.50 a barrel.

The tender results of Indian Oil Corp. (IOC) were not yet available.

Traders said Nigerian benchmark Bonny Light <BFO-BON> and Qua Iboe <BFO-QUA> were assessed steady around dated plus $4.65/$4.75, while some said Qua Iboe was offered at dated plus $4.85.

Petronas was still offering 22-23 Qua Iboe and 20-21 Amenam.

Shipping data show a Panamax was booked for July 6 loading from West Africa to Japan by Petrodiamond, while the grade carried by the vessel was not available.

Petrodiamond, a unit of Japan's top trading house, had recently shipped two Panamax vessel to carry Gabon's Ribi Light to Japan for direct burning at oil-fired power plants.

Normally, voyages from West Africa to Japan are rare but demand for fuels for power producers has been high due to relatively low operation rates at nuclear power plants. (Reporting by Ikuko Kao)

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