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

Date:

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.

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* 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. (

Naija247news
Naija247newshttps://www.naija247news.com/
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

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