More delays to Nigerian Bonny Light as crude pipeline closes

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LONDON, June 11 – Loadings of Nigerian Bonny Light crude, which have already been under force majeure for a month, were likely to be further delayed by the closure of a key pipeline, traders said on Monday.

The Nembe Creek Trunk Line, which carries Bonny Light, closed on Friday for repairs, operator Aiteo said on Monday. A source with knowledge of the matter said the Trans Nigerian Pipeline, a second line that carries Bonny Light remained open.

It was not clear when the Nembe Creek pipeline would reopen.

NIGERIA
* Traders said there were at least three tankers that were due to load Bonny Light this week and next, with oil deferred from the May loading programme. But any liftings would likely be subject to delays of two to three days because of the pipeline closure, they said.

* Shipments of Bonny Light remained subject to force majeure, according to a Shell spokesman on Monday. Exports have been under force majeure for a month following a leak further up the pipeline.

* Between 30 and 33 cargoes were still available for sale from the 48-strong Nigerian July programme, which was likely to keep differentials under pressure, traders said.

ANGOLA
* Sonangol was believed to have sold out of its July cargoes. The August loading programme is due this week.

STORIES
* India’s domestic sales for diesel and gasoline rose to record highs of 18.72 million tonnes in May, according to data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed on Saturday.

* Germany spent 12.6 billion euros ($14.88 billion) on crude oil imports in January-April, up 15.6 percent year on year, while the volume was 1.6 percent lower, BAFA foreign trade office data showed.

TENDERS
* India’s MRPL did not award a tender for 600,000 barrels of sweet crude loading in early August, traders said.

* India’s IOC was said to be seeking light, sweet crude for delivery between Aug. 5-15, trading sources said.

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Samson Gbenga Salau [Editorial Board Adviser] Gbenga Samuel Salau is a professional journalist with over 17 years experience in journalism, he is a graduate of Communication and Language Arts, University of Ibadan. On completion of his youth service, he joined The Guardian as a freelance journalist and was later absorbed as a staff. While in the University, he was a campus journalist reporting for the Independence Hall and Faculty of Arts Press Clubs. As a campus journalist, he won the following awards; Independence Hall Press Best News writer; University of Ibadan Union of Campus Journalists’ Best News Reporter/Writer; First Runner-up, Reuben Abati Award for Investigative Journalism; Association of Faculty of Arts Students’ Press Best Reporter; University of Ibadan Union of Campus Journalists’ Best Political Writer; Winner, Reuben Abati Award for Investigative Journalism, and University of Ibadan Union of Campus Journalists’ Best Interviewer. He served the Association of Communication and Language Arts Students, as the Public Relation Officer, the same year he was appointed the News Editor of the Association of Faculty of Arts Students Press. The following session, he was made the General Editor, and a member of the 13-man University of Ibadan Students’ Union Transition Committee. As a reporter in The Guardian, in 2014, he won the Promasidor Quill Award Best Report on Nutrition and DAME Business Reporting category. In the 2015 edition of the Promasidor Quill Award, he won the best Report on Nutrition and Brand Advocate Categories, while in 2016, he won the NMMA Print Journalist of the Year, first runner-up Golden Pen Reporter of the Year and SERAs CSR Awards. Gbenga Salau loves traveling, reading, and listening to songs with good lyrics no matter the genre.

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