Angola Takes 2 Cargoes Out of May Exports

Angola Takes 2 Cargoes Out of May Exports

In line with its plan to support the Organization of Petroleum Exporting Countries’ (OPEC) move to limit production, Angola’s state-run Sonangol has reduced its May exports by taking two cargoes out of circulation, an oil trader informed Reuters.

Accordingly, Angola will export 1.61mb/d from 52 cargoes, down from 1.67mb/d from the original 54, Petroleum Africa reported.

Sources noted to Reuters that two cargoes that were supposed to load in May were postponed to June. The takers are an end-month Dalia, that was with Sonangol, and a Cabinda, that was meant to load with Eni.

Angola, along with the OPEC member and other nations, agreed on a deal to cut 78,000b/d from the African nation’s prior production level of 1.

751mb/d.

In 2017, Angola’s output and exports have been below the targeted limit. However, several fields are currently starting production, including Chevron’s Mafumeira Sul and Eni’s West and East Hub projects.

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