W. Africa Crude-Bonny Light bid as Nigerian January schedules emerge
LONDON, Nov 26 (Reuters) -Nigerian Bonny Light was bid in the Platts window on Tuesday as traders digested January loading programmes for Nigerian grades.
* Exports of four key Nigerian crude oil grades - Qua Iboe, Bonny Light, Bonga and Forcados - will reach 841,000 barrels per day (bpd) in January, preliminary programmes seen by Reuters showed, up from a combined 770,000 bpd scheduled to load in December.
* A nascent price recovery in light sweet North Sea grades is not spreading to other parts of Europe or West Africa, said Sparta Commodities analyst Neil Crosby.
* In the Platts window, Mercuria bid for two Bonny Light cargoes, both with loading dates of Dec. 30 to Jan. 10, at dated Brent plus 90 cents. No sellers stepped forward.
* Bonny Light was most recently valued at about dated Brent plus $1.00 free on board (FOB), trade sources told Reuters on Monday.
* Nigeria's Port Harcourt refinery has resumed production, officials said on Tuesday, marking the first of state-owned oil company NNPC's four plants to return from upgrade work announced in 2020.
* The 210,000 bpd capacity refinery will produce 60,000 bpd and begin supplying petroleum products to the domestic market on Tuesday, said NNPC spokesperson Femi Soneye.
* On Monday Angola's state-owned Sonangol was heard to be offering cargoes of Dalia and Nemba at dated Brent minus 60 cents and minus $1.40 respectively, a trader said.
Reporting by Robert Harvey
Editing by David Goodman
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