Nigerian crude differentials were steady on Friday as a pending buying tender was prompting some sellers to keep to the sidelines.

Nigerian crude differentials for prompt cargoes have come under pressure this week, reflecting tepid demand due to narrow refining margins. Bonny Light crude was last offered at dated Brent plus $1.25 a barrel for end-October loading.

Other offers seen in recent days are for Forcados crude at dated Brent plus $3.30, Amenam at dated plus $1.45 and Bonga at dated Brent plus $3.70, a trader said.

Some sellers have not tabled new offers on Friday ahead of a pending buy tender from Pertamina, the trader added.

About 10 or less cargoes of November-loading Angolan crude are still looking for buyers, a trader said, less than a third of the 33 scheduled for November.

State oil company Sonangol last offered its Nov. 28-29 Girassol cargo at dated Brent plus $3.00. It wasn’t clear on Friday if the cargo had been sold.
Source: Reuters (Reporting by Alex Lawler; Editing by Louise Heavens)