There are several buy tenders open this week, with companies including Uruguay’s ANCAP, Indonesia’s Pertamina, and India’s HPCL and IOC, in the market for crude oil, a trader said on Friday.

HPCL has scored two cargoes of West African crude as part of its tender – a cargo apiece of Nigerian Agbami and Angolan Girassol, the trader said.

It is unclear when the tenders are set to close.

Premiums for West African crude grades have been under pressure in recent weeks, on ample supply and weak gasoline margins. There’s just too much crude, the trader added.

Nigeria was last known to be carrying an overhang of 15 to 20 cargoes in addition to its July export programme, much of which emerged this week.

Meanwhile, about half of Angola’s July loading programme remains on offer.
Source: Reuters (Reporting by Natalie Grover in London; Editing by Shailesh Kuber)