LONDON, Jan 9 (Reuters) - West African crude oil

differentials slipped further on Wednesday, depressed by a large

overhang of unsold cargoes that have failed to find buying

interest from any of the key consuming regions.

Indian demand for light, sweet barrels has picked up this

week but remains low for the season. Chinese demand has been

relatively slow for February loading cargoes after a busy trade

in January barrels.

West African crude oil exports to Asia will rise slightly in

January versus December, according to data compiled by Reuters.

Asia is expected to import 1.81 million barrels per day (bpd) of

West African crude in January versus 1.75 million bpd in

December, with China importing 33 cargoes.

Nigeria is due to load 68 oil cargoes for export in February

and only about 25 of these have so far been placed, traders

said.

Asian tenders issued by India's IOC, MRPL and BPCL could

help to absorb the outstanding Nigerian cargoes. The IOC tender

will take around four Nigerian cargoes, traders said.

In contrast, only six Angolan cargoes were left unsold for

February, with heavier grades Saturno, Pazflor, Hungo and Dalia

still available.

NIGERIA

* Qua Iboe: Offered at around dated Brent plus $2.60

although traders said the benchmark grade was unlikely to sell

for much more than $2.30 above dated Brent.

* Bonga: Socar was reported to have been offering Bonga at

dated Brent plus $3.40, but one potential buyer described this

level as at least 80 cents too high.

* Brass River: Traders said the force majeure on this grade

was still in place but almost the entire programme was still

available for sale. Brass River offers were reported at around

dated Brent plus $1.85 with potential buyers around 30 cents

lower, traders said.

* Forcados: Two Forcados cargoes were reported available

with offers pitched around dated Brent plus $3.80 and assessed

doable around 20-30 cents lower.

ANGOLA

* Six Angolan cargoes were reported unsold for February with

two Saturno, two Pazflor plus one cargo each of Dalia Hungo.

* Saturno: Three cargoes are now due to lift in February - a

Feb. 1-2 sold by Statoil via a third party to Unipec, a Feb.

13-14 reported to be held by BP, and a Feb. 24-25 now lifting

with Sonangol. Saturno offers were reported around dated Brent

minus $3.60 but buyers were said to be around $1.50 lower with

no active interest for the remaining two cargoes.

TENDERS

* India's largest refiner, Indian Oil Corp, bought

four cargoes for loading in March in two very large crude

carriers (VLCCs), all said to be Nigerian, traders said. BP was

awarded one VLCC, loaded with Qua Iboe and Okwori. The other

cargo was reported to have been awarded to Unipec. Details and

prices were not immediately available. Traders said Feb. 15-28

loading crude could be delivered into the tender and it was

likely to be met by February barrels, given the state of the

market.

* India's Mangalore Refinery and Petrochemicals (MRPL) has a

tender open to buy light sweet crude oil for loading in March,

aslo with an option for Feb. 15-28 loading. Part II of the

tender closes on Thursday and an award is expected on Friday.

* India's Bharat Petroleum Corp (BPCL) has opened a tender

to buy crude loading in March. Part I closes on Friday and an

award will be made next Tuesday, traders said.

DATABASE

For a database of oil supply and demand fundamentals

upstream and downstream, Reuters subscribers can click on:

http://bond.views.session.rservices.com/ce

(Reporting by Christopher Johnson; editing by William Hardy)

(christopher.johnson@thomsonreuters.com)(+44 207 542 6056)(Reuters Messaging: christopher.johnson.reuters.com@reuters.net)

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