Nigeria’s crude oil exports to drop 1.52m bpd in June
May 3, 2017 | 6:20 pm| | | Start Conversation
Nigeria’s crude oil exports are set to slip to 1.52 million barrels per day (bpd) in June, according to loading programmes compiled by Reuters on Tuesday.
The programme for the month is down from a revised schedule of 1.63 million bpd in May. Three of the June cargoes of Qua Iboe, the largest Nigerian stream, were deferred from May.
Operator ExxonMobil has reissued the Qua Iboe plan several times in the past two months due to persistent, but unexplained, loading delays, and there are now seven cargoes planned for each of May and June.
Planned June exports are just below Angola’s schedule of 1.67 million bpd. Nigeria had consistently been Africa’s largest oil exporter, but its loadings have fallen below those of Angola several times over the past year as it had to deal with militant attacks on oil infrastructure in the Niger Delta.
Nigeria will also export four cargoes of Akpo condensate in June, the same figure as in May.
Big Read |