Nigeria’s Qua Iboe crude exports to rise


LONDON, June 24 – Nigeria’s loading programmes for August were starting to be issued on Monday with the Qua Iboe schedule pointing to more ample supplies.

* Nigeria’s Qua Iboe crude oil stream will export 9 cargoes in August, up from 6 originally planned in July, a trade source said on Monday citing a loading schedule.

* At least 20 cargoes remain for July loading, according to traders.

* Differentials for some grades have reached multi-year highs due to stronger demand especially in Northwest Europe.

Qua Iboe for July loading was last heard to be offered at dated Brent plus $2.80 a barrel. If a cargo traded at that level, it would be the highest differential since mid-2014, according to Refinitiv Eikon data.

* Some cargoes remain for July loading, while the preliminary programme for August has added another 45 cargoes. (Reporting by Alex Lawler; Editing by Ed Osmond) ))

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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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