Nigeria’s Crude Oil Exports to Reach 1.84mb/d

Nigeria’s Crude Oil Exports to Reach 1.84mb/d

Nigeria’s crude oil exports are expected to reach 1.84mb/d in July, slightly higher month-on-month, due to a recovery in Forcados exports, Reuters stated.

Exports from forcados are currently standing at 197,000b/d and would hit 252,000b/d in July, according to PM News.

The grade’s operator, Shell’s local subsidiary SPDC, issued an initial June schedule of 197,000b/d before increasing it to 252,000b/d.

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.

Meanwhile, Angola’s July exports are expected to be 1.55mb/d.

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 program. Nigeria will also export four cargoes of Akpo condensate in July, the same figure as in June.



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