Ancap takes Qua Iboe from BP as Nigerian crude differentials rise

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Nigerian crude differentials were rising due to strong margins for refined fuels such as petrol and diesel, Reuters reports.

Disruptions caused by maintenance at the Bonga export platform were also boosting prices. Traders said loading delays had reached as long as 13 days as operator Shell gradually increased output.

Nigerian cargoes are also likely to end up in recent tenders. Uruguay’s Ancap booked a cargo of Qua Iboe from BP, while a tender due later this week from India’s IOC could also take Nigerian grades.