Angola cuts May crude exports to boost OPEC compliance

0
541

LONDON  – Angola’s state-run Sonangol has taken two cargoes out of its planned May exports in a move to boost its compliance with an OPEC deal to curb production, an oil trader familiar with Angolan loading plans said on Monday.

A revised loading programme showed the country’s exports were now set at 1.61 million barrels per day (bpd) from 52 cargoes, down from 1.67 million bpd from 54 cargoes initially.

The source said the two cargo loadings removed and pushed into June were an end-month Dalia that was with Sonangol and a Cabinda that was set to load with ENI.

Under the deal with the Organization of the Petroleum Exporting Countries (OPEC) and other nations, Angola agreed to cut 78,000 bpd from a reference production level of 1.751 million bpd.

So far this year, Angola’s production and exports have been well below the target but several fields are coming into production or ramping up, including Chevron’s Mafumeira Sul and Eni’s West Hub and East Hub projects.

Grade May cargoes BPD April cargoes BPD

Cabinda 6 184,000 5 158,000

CLOV 5 161,000 6 190,000

Dalia 6 184,000 7 222,000

Girassol 4 129,000 4 133,000

Hungo 3 92,000 2 63,000

Kissanje 3 92,000 4 127,000

Mondo 2 61,000 2 63,000

Nemba 5 153,000 6 190,000

Pazflor 3 92,000 2 63,000

Plutonio 3 97,000 3 100,000

Saturno 6 184,000 5 158,000

Saxi 1 31,000 2 63,000

Sangos 2 61,000 2 63,000

Gimboa 1 31,000 0 0

Palanca 0 0 1 33,000

Olombendo 2 61,000 2 63,000

52 1,613,000 53 1,691,000

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here