More than 30 per cent of Nigeria’s 2 million barrels a day of crude oil offered for September sale, had no offer on Monday, as traders reported buying interest thinning out from Asia for crude from Nigeria and Angola.

Traders said offer levels had not softened, and some sellers were more interested in storing crude oil or delaying deals than lowering prices.

“Demand from the east isn’t very good,” one trader said. “Angola is coming down.”

Unipec, the largest buyer of Angolan crude oil, stopped offering cargoes during the afternoon trading session. The Chinese company’s offers in the past several weeks had sparked expectations of more weakness, particularly as sources said the it was lowering its refinery runs.

Traders said there are likely still surplus cargoes available, but sellers are waiting for would-be buyers to come forward to keep prices from spiralling lower.

A good portion of the Nigerian loading programme, or more than 30 percent of the just under 2 million barrels per day (bpd) offered for export in September, was also still available.

Traders said that slower-than-expected restarts at the country’s four oil refineries cuold also lead to additional cargoes of Bonny Light, Escravos and Qua Iboe coming to the spot market.

ANGOLA

* There were five cargoes of Angolan crude for September loading actively offered on Monday, but traders said there are likely more available.

* State oil company Sonangol has a several more cargoes to sell and was still offering Girassol near to dated plus 30 cents and Hungo at dated minus $3.05, traders said.

* #Unipec stopped offering its cargoes after selling a Jubilee last week and a Saturno the week before.

* It had also been offering Nemba, Kissanje and Cabinda.

NIGERIA

* Some grades, such as Qua Iboe, were largely sold out, but roughly 30 percent of September’s cargoes are still available.

* Nigeria plans to export 1.99 million bpd in September, its highest exports since January.

* Brazil’s Petrobras booked a cargo of Forcados, according to shipping fixtures, a rare purchase.

TENDERS

* Uruguay’s ANCAP issued a tender to buy up to 1 million barrels of light, sweet crude oil for delivery from October 15-20. The tender closes on August 12. It bought Kissanj crude oil in its last tender.

* A second part of a tender from India’s IOC to buy October-loading crude oil is due later this week. Last week, the company bought four million barrels of West African crude including Brass River and Agbami from Chevron and Qua Iboe and Zafiro from Statoil.

* A tender from Indian refiner MRPL to buy 1 million barrels for October loading closes on Aug. 11 and is valid to Aug. 13.

*Reuters