Nigeria’s exports up in July on Forcados restart – loading plans

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LONDON, June 14 – Nigeria’s crude oil exports are set to reach 1.84 million barrels per day (bpd) in July, slightly higher month-on-month, because of a recovery in Forcados exports, according to loading programmes compiled by Reuters on Wednesday. Forcados exports resumed at the end of May after a nearly complete shutdown since February 2016. The grade’s operator, Shell’s local subsidiary SPDC, issued an initial June schedule of 197,000 bpd before increasing it to 252,000 bpd. The resumption cemented Nigeria’s return to the status of Africa’s largest oil exporter, a title it lost to Angola following militant attacks on oil infrastructure in the oil-rich Niger Delta region during 2016. Angola’s July exports are expected to be 1.55 million bpd. But with a force majeure in place on Bonny Light, and loading delays of as much as 10 days, Nigeria’s export plans for June and July are likely to change. Cargoes of EA and Pennington were also added to the initial June programme. Nigeria will also export four cargoes of Akpo condensate in July, the same figure as in June. Grade July Barrels per June Barrels cargoes day cargoes per day Abo 1 23,000 0 0 Agbami 7 220,000 7 228,000 Amenam 3 92,000 3 95,000 Antan 0 0 1 32,000 Bonga 7 215,000 6 195,000 Bonny 6 164,000 7 203,000 Light** Brass River 5 114,000 5 110,000 EA 1 31,000 1 32,000 Ebok 1 19,000 0 0 Erha 4 129,000 4 133,000 Escravos 4 123,000 4 127,000 Forcados 8 248,000 9 252,000 Okono 1 29,000 1 30,000 Okwori 1 21,000 1 22,000 Oyo 1 11,000 0 0 Pennington 0 0 1 30,000 Qua Iboe 9 276,000 7 222,000 Usan 3 92,000 2 63,000 Yoho 1 31,000 2 63,000 Total 63 1.836 MLN 61 1.835 MLN *Not yet available **Grade under force majeure, schedule subject to change

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Joseph Afam (Local Contents and Partnership Editor) (070 3949 0464) Joseph Afam is a energy and finance journalist, who has years of experience in journalism, he started his journalism career in Nigeria’s top financial newspaper in Lagos. He’s a graduate of Economics and Finance from University of Ebonyi State, Nigeria He has won series of awards and regconitions Contact him for any editorial deals and advertorial issues on # Joseph.Afam@naija247news.com, editor@naija247news.com, Cell: 070 3949 0464

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