W.Africa Crude-Market quiet, Total bids for Forcados

Reuters01:26

W.Africa Crude-Market quiet, Total bids for Forcados

LONDON, Dec 5 (Reuters) - West African crude oil markets were quiet on Friday.

* The West African crude market has been quiet this week, as falling distillate refining margins have balanced out a steadying in freight rates, a trade source said.

* Distillate-rich West African grades are sold on a FOB basis, meaning demand can be impacted both by rises and falls in diesel refining margins and freight rates.

* Freight rates were also steadying, he added.

* TotalEnergies TTEF.PA was bidding for a Forcados cargo at dated Brent plus $2.40 in the Platts window, another trade source said.

* Meanwhile, Chevron CVX.N said on Friday it will participate in Nigeria's next oil licensing round and plans to deploy a drilling rig in late 2026 as it seeks to expand operations in Africa's top energy producer.

* TotalEnergies has also expressed interest in joining an auction.

(Reporting by Seher Dareen and Robert Harvey in London; Editing by Shailesh Kuber)

((Seher.Dareen@thomsonreuters.com; +44-7771341740;))

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Editing by Shailesh Kuber)</p><p> ((Seher.Dareen@thomsonreuters.com; +44-7771341740;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0098860793.USD","symbol_name":"FRANKLIN INCOME \"A\" INC","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20251205:nL4N3XB1DR:1","article_id":"2589981160","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2589981160","pubTimestamp":1764955584,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"LONDON, Dec 5  - West African crude oil markets were quiet on Friday.* The West African crude market has been quiet this week, as falling distillate refining margins have balanced out a steadying in freight rates, a trade source said.* Distillate-rich West African grades are sold on a FOB basis, meaning demand can be impacted both by rises and falls in diesel refining margins and freight rates.* Freight rates were also steadying, he added. * TotalEnergies TTEF.PA was bidding for a Forcados cargo at dated Brent plus $2.40 in the Platts window, another trade source said.* Meanwhile, Chevron CVX.N said on Friday it will participate in Nigeria's next oil licensing round and plans to deploy a drilling rig in late 2026 as it seeks to expand operations in Africa's top energy producer.* TotalEnergies has also expressed interest in joining an auction.  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