Nigeria’s crude oil exports to rise in May – loading plans

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FILE - In this Monday, Dec. 26, 2011 file photo, Shell Bonga offshore oil Floating Production Storage and Offloading vessel off the coast of the Niger Delta in Nigeria. Shell closed the terminal exporting Nigeria's benchmark Bonny Light crude oil on Wednesday May 11, 2016 and was evacuating workers from a threatened oil field as renewed militant attacks cut production in Africa's biggest petroleum producer, the company and a union leader said. (AP Photo/Sunday Alamba, file)

LONDON, March 28  – Nigeria’s crude oil exports are set to rise to 1.66 million barrels per day (bpd) in May, according to a loading programme compiled by Reuters on Tuesday.
The programme for the month is up from April’s revised loadings and also puts Nigeria just above Angola’s planned exports of 1.61 million bpd in May.
While Nigeria had consistently been Africa’s largest oil exporter, its loadings have fallen below those of Angola several times over the past year as it dealt with militant attacks on
oil infrastructure in the Niger Delta.
The increase to 54 May cargoes from 52 in April, or 1.61 million bpd, came in part from rising exports of Bonga and Antan, both of which were hit earlier in the year by scheduled
maintenance.
Exports of Qua Iboe were expected to be either flat or lower. April’s export plans for Qua Iboe were uncertain, with some traders showing a programme with nine cargoes and others with eight.
Field operator ExxonMobil has re-issued the Qua programme several times as it grappled with loading delays of as much as two weeks. Traders said the problem stemmed from pumping issues and metering issues on the export pipeline. Exxon has declined to comment.

Grade         May         Barrels     revised      Barrels
               cargoes     per day     April        per day
                                       cargoes      
 Abo           1           23,000      1            23,000
 Agbami        8           252,000     7            228,000
 Amenam        4           123,000     2            63,000
 Antan         2           42,000      0***         0***
 Bonga         6           184,000     4***         127,000***
 Bonny Light   6           189,000     8            232,000
 Brass River   5           112,000     4            108,000
 EA            1           31,000      1            32,000
 Ebok          1           21,000      0            0
 Erha          4           129,000     4            133,000
 Escravos      5           153,000     6            190,000
 Forcados**    0           0           0            0
 Okono         1           29,000                   
 Okwori        0           0           1            22,000
 Oyo*                                               
 Pennington*                                        
 Qua Iboe      8           245,000     9            285,000
 Usan          3           97,000      4            133,000
 Yoho          1           31,000      1            32,000
 Total         56          1.66 mln    52           1.61 mln
 *Not yet available
**Grade under force majeure
***Field maintenance

 (Reporting by Libby George; editing by David Clarke)

 

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