LONDON, July 26 (Reuters) - West African crude oil
differentials held steady on Thursday as Asian end-consumers
bought cargoes via tender, soaking up some of the remaining
barrels due to load in August and September.
Taiwan's CPC bought four cargoes of Angolan crude for
loading in September, while two Indian refiners were also
looking for cargoes through regular monthly tenders.
NIGERIA
* Qua Iboe: Most of the 10 Qua Iboe cargoes due to load in
September were still unsold with some sellers holding back
cargoes in the hope of placing them into Asia tenders. Sellers
of September Qua Iboe were said to be indicating around dated
Brent plus $1.50 with buyers 20-30 cents lower.
ANGOLA
* Two thirds of Angola's 49 cargoes scheduled to load in
September were reported to have been placed but cargoes of many
of the smaller streams were still on offer, traders said.
* Cabinda: three of the four cargoes taken by CPC Taiwan
(see below) were Cabinda. Traders assessed the grade at around
dated Brent plus 50-70 cents.
TENDERS
* Taiwan's CPC Corp bought 4 million barrels of Angolan
crude for September loading via a tender, down from more than 5
million barrels the previous month, traders said on Thursday.
The refiner bought 1 million barrels of Cabinda each from
Sonangol, Chevron and Unipec, and another 1 million barrels of
Nemba from Sonangol, they said.
* Traders awaited details of a crude oil buying tender from
India's Bharat Petroleum Corp Ltd (BPCL), which closed on
Wednesday. BPCL has been seeking various grades, including
Nigerian and West African grades for loading Sept. 1-15.
* State-run refiner Indian Oil Corp (IOC) has a tender open
to buy light, sweet crude for September. Grade offers were due
by July 24, price offers by July 25 and an award was expected on
July 27. IOC is expected to take at least one cargo of Nigerian
Qua Iboe crude and may buy four cargoes of various grades,
traders said.
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