Nigeria to Export 59 Crude Cargoes in February

25 Dec 2012

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Nigeria, Africa’s largest oil producer, is scheduled to export 59 crude cargoes in February, a partial loading program obtained by Bloomberg showed.

Daily exports in February are scheduled to be 1.74 million barrels a day, according to the plan, which excludes four grades. Total shipments for next month are planned at 2.12 million barrels a day, the full program for January showed.

The country plans to ship 12 consignments of its benchmark Qua Iboe grade in February, one more than a revised schedule for next month, the program showed. Exports of Bonny Light blend will also increase by one lot to seven cargoes.

Nigeria will export eight cargoes of Forcados, six of Agbami, five each of Bonga and Brass River, four lots of Usan, three each of Akpo and Escravos, two each of Okono and Yoho and one consignment each of Abo and EA Blend, the plans showed. No shipment of Pennington was planned for February.
The schedules for Amenam, Antan, Erha, and Okwori grades, which totaled 11 cargoes in January, were not yet available.

Loading programs are monthly schedules of crude shipments compiled by field operators to allow buyers and sellers to plan their supply and trading activities.

Mobil Producing Nigeria recently lifted its force majeure on Qua Iboe crude exports. The oil giant had on November 20, declared the force majeure on oil exports attributing it to the difficulty in meeting projected oil lifting, due to the repair work on a section of its pipeline affected in the November 9 oil release offshore Akwa Ibom.

The US oil major operates two offshore oil blocks and a 960, 000 barrels per day crude export terminal, off the Akwa Ibom coastline. The company had shut down the affected facility to prevent damage to the environment.

Also, Shell on November 29, lifted its over one month force majeure on Bonny oil exports. The lifting of force majeure, helped to ease supply problems for Nigeria, Africa’s largest oil producer, trade sources said.

Tags: Business, Nigeria, Featured, Export, Crude Cargoes, February

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