Thursday, 09 July 2020 | 01:21
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Spot trade grinds to a halt

Monday, 17 February 2020 | 00:00

European refiners have yet to step into the void left by Chinese buyers despite low freight rates, with little movement of March cargoes.

China’s Unipec was still seeking buyers for a handful of Angolan cargoes for March export as new programmes were set to emerge early next week.

Turkey’s Tupras took two cargoes in its latest tender including a Bonny Light from Total.

Two Chinese independent refiners issued buy tenders but details did not immediately surface.

India’s IOC awarded a buy tender for crude loading April 11-20. Total was said to be a winner but this could not be confirmed.

Indonesia’s Pertamina closed a buy tender for crude cargoes for May 1-3 delivery. Results are expected in the next few days.


* A Nigerian oil reform, two decades in the making, is urgently needed to get money into its energy sector, industry executives say, as tax increases and regulatory uncertainty scupper investments.
Source: Reuters (Reporting By Julia Payne; Editing by Giles Elgood and Edmund Blair)

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