W.Africa Crude-Differentials steady at week's end

Hindustan Petroleum

05/06/2026 17:06

LONDON, June 5 (Reuters) - West African crude oil differentials were little changed at the week's end, as traders were awaiting the sale of remaining June cargoes and assessing the first offers for July stems.
West African crude differentials have dropped sharply in recent weeks, weighed down by low demand in Asia and competition from Latin American grades.
A trader said earlier this week that fewer than 10 Nigerian June cargoes remained unsold, while a couple of Angolan June shipments were also overhanging.
July Angolan offers surfaced this week. Dalia was offered for July at dated Brent minus $1.80 a barrel on Thursday, down 50 cents from Monday, and Saturno was indicated at dated Brent minus $2.00, unchanged from Monday, a trader said.
Meanwhile, Angolan Agogo was offered at dated Brent minus $2.00 and Congolese Djeno at dated Brent minus $4.00. June Angolan Hungo was offered at dated Brent minus $4.00, a trader said on Wednesday, but no deals or updated offer levels were heard by Friday.
In tenders this week, Indian refiner MRPL bought U.S. crude, while India's HPCL bought Brazilian Buzios from Petrobras, and Nigerian Agbami from Shell. 
In upstream news, ENI was on Friday awarded upstream exploration block A1 in the Gambia.
In the downstream, Nigeria's Dangote Petroleum Refinery has ramped up crude processing to 700,000 barrels per day (bpd) during a performance test by process licensors, exceeding its nameplate capacity of 650,000 bpd and marking a significant operational milestone, the company said on Thursday.

 (Reporting by Robert Harvey; Editing by Sahal Muhammed)
 ((robert.harvey@thomsonreuters.com))