Nigeria’s crude oil exports to slip in April – loading plans

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LONDON, Feb 28  – Nigeria’s April crude oil exports are on track to drop by just over 100,000 barrels per day (bpd) in April from the previous month, according to loading
programmes compiled by Reuters on Tuesday.
The exports of 1.54 million bpd, on 50 cargoes, are down from a revised March programme that included 1.65 million bpd on 56 cargoes. The biggest month-on-month decline was in Qua Iboe, Nigeria’s largest oil stream.
Qua Iboe exports in March were revised higher to 11 cargoes, four more than the 7 planned to load in April, due to loading delays that have pushed February exports back. Field operator
Exxon Mobil has reissued the export programme for Qua Iboe several times this year, though the reason for the problems was not immediately clear.
The company dealt with strike action in late December that impacted its production, and also had to deal with the closure of the main pipeline that exports the oil.
Agbami, Amenam, Brass River and Erha were also set to load fewer cargoes in April, despite a respite in militant attacks in the Delta region and the lifting by ENI of force majeure on Brass River. Antan, which has field maintenance, will not export
any cargoes in April.
Exports of Bonga were set to climb to 4 cargoes, from just one in March, as operator Shell completed field maintenance, traders said. There were also more cargoes of Bonny Light,
Escravos, Owkwori and Usan.
April’s exports will also include four cargoes of Akpo condensate, for a total of 133,000 bpd, the same total as March but slightly higher on a bpd basis due to the shorter month in
April.

    
 Grade         April       Barrels     revised      Barrels
               cargoes     per day     March        per day
                                       cargoes      
 Abo           1           23,000      1            23,000
 Agbami        7           228,000     8            252,000
 Amenam        2           63,000      3            92,000
 Antan***      0           0           1            31,000
 Bonga***      4           127,000     1            31,000
 Bonny Light   8           232,000     7            221,000
 Brass River   4           108,000     6            120,000
 EA            1           32,000      1            31,000
 Ebok*                                              
 Erha          4           133,000     5            161,000
 Escravos      6           190,000     6            184,000
 Forcados**    0           0           0            0
 Okono                                 1            29,000
 Okwori        1           22,000      0            0
 Oyo*                                               
 Pennington    0           0           1            29,000
 Qua Iboe      7           222,000     11           337,000
 Usan          4           133,000     3            97,000
 Yoho          1           32,000      1            10,000
 Total         50          1.54 mln    56           1.65 mln
 *Not yet available
**Grade under force majeure
***Field maintenance

 

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