Business

Nigerian oil exports to fall to 2018 low in July

Nigeria’s oil exports are expected to fall in July to just 1.43 million barrels per day

(bpd), loading plans showed on Monday, the lowest level so far this year.     The export plan comprised 48 cargoes, compared with 60 cargoes and a daily rate of 1.796 million bpd in June, due in part to an outage on the Bonny Light stream, which has been

under force majeure for a month.  July’s export plan also includes four cargoes of Akpo

condensate with 123,000 bpd, compared with four cargoes in June with 133,000 bpd.

The export plans showed one extra cargo of Agbami than in June, as well as one more Bonga and an extra Qua Iboe. It also shows 3 fewer Forcados and one fewer Escravos.  A number of smaller streams showed no cargoes would load in July. Nigerian oil export plans are prone to revisions and delays, with cargoes frequently pushed from one month to the next.

Grade         July      Barrels    June       Barrels per

cargoes   per day  cargoes         day

Abo           none      none       1          23,000

Agbami        7         220,000    6          195,000

Amenam        4         122,000    4          127,000

Antan         none      none       1          32,000

Bonga            6        184,000    5          158,000

Bonny Light*                           6          195,000

Brass River   4         99,000     5          88,000

EA            none          none          none       none

Ebok*                              1                      22,000

Erha          5         153,000         4            127,000

Escravos      5         153,000    6          190,000

Forcados      7         195,000    10         289,000

Okono         none      none       none       none

Okwori        none      none       none       none

Oyo*

Pennington    1         31,000     1          32,000

Qua Iboe      9         276,000    8          245,000

Usan*                              2                      67,000

Okwuibome*

Yoho          none      none       1          32,000

Total         48        1.43(mln)  60         1.79 (mln)

* Programme not available           Reuters