Offers for Nigerian Forcados crude dipped lower at the end of the trading week, while Nigeria’s state-owned NNPC awarded its first supplies of Utapate.

Offers for Forcados have slipped into the dated Brent +$3s, a trader said, after the grade was offered earlier in the week at around dated +$4.00.

Nigeria’s state oil firm NNPC has sold its first three cargoes of its new light, sweet crude grade Utapate to Spain’s Repsol and Dubai-based Gulf Transport and Trading (GTT), NNPC and sources said.

The first cargo of 950,000 barrels is en route for Bilbao, Spain, for Repsol, while the next two cargoes – loading Aug. 20-21 and Sept. 15-16 – were awarded to GTT, NNPC said. The September cargo was resold to Glencore, trading sources added.

Indonesia’s Pertamina was not yet heard to have awarded its tender to buy a cargo arriving in the first half of October.

On Thursday, Sonangol was offering Dalia at dated Brent plus 20 cents, Gimboa at dated Brent minus 70 cents, Girassol at dated Brent plus $3.30 and Kissanje at dated Brent plus $1.00, a trader said.

Nigerian Escravos offers were last heard to be around dated Brent plus $4 and Qua Iboe and Bonny Light offers at around dated Brent plus $3 a barrel.
Source: Reuters (Reporting by Robert Harvey and Alex Lawler, Editing by Louise Heavens)