Nigeria’s Forcados crude oil targets 168,000 bpd exports in April


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LONDON, Feb 27 Nigeria’s Forcados crude oil stream will export 168,000 bpd in April versus 166,000 bpd in March

Meanwhile The Bonga stream will load 190,000 bpd in April, up from 153,000 bpd the previous month.

* Nigerian diffs held steady as sellers held off cutting offer prices despite wide weakening across light, sweet crude markets amid plentiful supply of comparable U.S. grades.

* A buy tender was expected from Taiwan’s CPC, also discouraging spot activity.

* State oil company Sonangol sold out of its April cargoes with China seeking medium grades which are now scarce following U.S. sanctions on comparable grades from Venezuela and Iran.

* An industry event in London kept activity fairly muted.

* Pricing agency Argus Media added U.S., African crude grades to its new North Sea Dated assessment

* Nigeria’s Buhari says will continue with inclusive government

* Nigeria’s state oil company NNPC indicated that output from the new ultra deepwater Egina field would be classified as condensate and not oil, adding that the country would conform with a OPEC-led production cut.

Reporting by Noah Browning and Amanda Cooper; Editing by Kirsten Donovan

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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