Categories: OPEC

Angola cuts May crude exports to boost OPEC compliance

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

Anene Peters

Anene Peters is an intern with Naija247news Media. He's focus is on tech and science. He's a graduate of Abia State University with a major in Computer Science and Communications. You can contact him for press events on 0903 927 6505

Recent Posts

Israel carries out 35 strikes on Syria in 2020 – Group

Beirut, Nov. 23, 2020 (dpa/Naija247news) A monitor group on Monday says Israel has carried out…

6 hours ago

PDP mourns party chairman in Sabuwa LG, Katsina

By Emmanuel Oloniruha Abhja,Nov. 23, 2020 The Peoples Democratic Party (PDP) has expressed sadness over…

6 hours ago

How far Oil Prices Can Go In 2021?

Progress in vaccine development and expectations that OPEC+ will decide in less than two weeks…

6 hours ago

Gov. Lalong declares NAFEST 2020 open, urges efforts to boost economy through Arts and Culture

By Martha Agas Jos, Nov. 23, 2020Gov. Simon Lalong of Plateau on Monday declared open…

6 hours ago

Mauritania: Terrorist group in Sahel appoints new leader for Al Qaeda

Nouakchott, Nov. 23, 2020 (PANA/Naija247news) Al Qaeda in the Islamic Maghreb (AQIM), a terrorist link…

6 hours ago

Air pollution remains environment health hazard in Europe – Watchdog

Copenhagen, Nov. 23,2020 (Xinhua/Naija247news) Air pollution remains a leading cause of premature deaths across Europe…

7 hours ago