Tag Archives: Nigeria

Nigeria – February 2017 – Exports (Preliminary)

  • Initial February loading plans began to emerge, with Bonny Light exports expected to rise on a barrel-per-day (bpd) basis to around 170,000 bpd.
  • Brass River loadings were on track to rise to 128,000 bpd and Escravos was set to rise to 170,000 bpd. Agbami exports were set to fall slightly to 244,000 bpd.
  • Just over 30 January loading cargoes were still available for sale, with light grades such as Akpo condensate struggling to sell, traders said.
  • Nigeria, one of two OPEC countries completely shielded from any cuts to its oil production, is struggling to sell its rising oil production as higher benchmark prices slammed shut trade routes and did little to stem an excess of light, sweet oil, leaving millions of unsold barrels.
  • Still, traders said Delta had purchased at least three cargoes of January-loading Qua Iboe from traders Vitol and Litasco for its Trainer, Pa., refinery.
  • Striking workers have shut down US oil major Exxon Mobil Corp’s Nigeria headquarters in Lagos after more than 100 employees were fired, a labour union said on Friday.

Full story from Reuters here.

Send to Kindle