Three October Angolan Crude Oil Cargoes Said to Be Left Unsold

Three Angolan crude cargoes for loading in October remain unsold, according to three traders who participate in the market.

The grades that have yet to find buyers are a Girassol for loading on Oct. 31 to Nov. 1, a Palanca for Oct. 30 to Oct. 31 and a Cabinda that was deferred by one day to load on Nov. 1 to Nov. 2, said the people, who declined to be identified because the information is confidential.

It was unusual for so many cargoes to still be available at this time of the month, the traders said.

Angola plans to export 56 lots totaling 1.74 million barrels a day of crude in October, compared with 51 shipments this month, according to a shipping program obtained by Bloomberg News.

Loading programs are monthly schedules of crude shipments compiled by field operators to allow buyers and sellers to plan their supply and trading activities.

To contact the reporter on this story: Rupert Rowling in London at rrowling@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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