Angola is set to increase its crude exports in May, according to a preliminary programme that emerged on Monday. Senegal’s SAR, meanwhile, is seeking three cargoes of Nigerian Erha crude.
Although the numbers remain preliminary, Angolan exports rose to 48 cargoes in May from 43 in April in the largest cargo programme since August’s 49. Backlogs of April-loading crude persisted in both Nigeria and Angola of about 30 and 10 cargoes respectively.
Traders attributed this to slowing demand, especially in Asia, on weakening diesel margins. Senegal’s SAR issued buy tenders for three cargoes of Erha crude, closing on March 21. The first is due for delivery by the end of April, with the others to be determined later.
India’s IOC has issued a tender for loading May 7-16. The tender closes on March 20. IOC’s previous tender, for loading May 1-10, was awarded to Total.
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