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W. Africa Crude-Forcados still shut, Exxon sells Qua

Thursday, 10 August 2023 | 00:00

Repairs at Nigeria’s suspended Forcados terminal looked to be taking longer than expected, according to a trade source on Tuesday, while operator Shell said there was no update.

* Shell suspended loadings at Forcados in July citing a potential leak at the export terminal. A shipping source told Reuters on July 31 that repair work was expected to be complete by early the following week.

* A spokesperson for Shell said on Tuesday there was no update.

* Exxon sold a cargo of Qua Iboe it had been offering at dated Brent plus $3.70, a trader said, adding that the deal price was likely below the offer level.

* On Angolan crude, about 8-10 cargoes are still unsold, one trader said, out of the 31 scheduled for loading, with no details of any deals this week heard so far.
Source: Reuters (Reporting by Alex Lawler and Natalie Grover, Editing by Maju Samuel)

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