Loading delays on Agbami, Forcados, Qua Iboe slow Nigerian crude trading

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Trading was limited on Tuesday as loading delays pushed several November crude cargoes into the following month, Reuters reports.

There were delays of roughly three days on Agbami and Forcados, while Qua Iboe exports were also delayed. Aiteo said repair works and security upgrades on its Trans Niger Pipeline were still underway. The November Bonny Light export plan had not been issued, and the grade remained under force majeure.

The dearth of cargoes underpinned differentials to a point, but traders said some buyers were avoiding grades with unpredictable loading plans. However, India’s IOC, fellow Indian refiner MRPL and Indonesia’s Pertamina all issued tenders which could help absorb November-loading crude oil.