W. Africa Crude: Nigerian Erha programme emerges, trade slow

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LONDON Jan 27 – * OPEC oil output is set to fall by 900,000 barrels per day (bpd) this month, a company that tracks OPEC supply said on Friday, pointing to a strong start by the exporter group in implementing a supply cut deal.

* South Sudan plans to more than double oil production to 290,000 barrels per day (bpd) in fiscal 2017/2018, the finance minister said on Friday, indicating a target higher than the level recorded shortly before conflict erupted in late 2013.

ANGOLA

* Only a handful of cargoes were still available including Nemba, Pazflor, Plutonio and Saturno.

NIGERIA

* Trading slowed as sellers reassessed market values following a string of tender awards that helped clear out a backlog of cargoes.

* Qua Iboe cargoes were being offered at around dated Brent plus $1.00 a barrel, firming on a smaller programme.

* The Erha programme emerged with five cargoes in March, including one deferred from the end-February. (

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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