Monday, May 24, 2010

Nigeria Jul Plan Has Three 950,000 Bbl Brass Oil Cargoes-Trade

LONDON (Dow Jones)--Nigeria plans to ship three full cargoes and three parcels of Brass River crude in July after a force majeure on exports from the field was lifted earlier in May, traders who had seen details of the provisional plans said Monday.

Three full cargoes of 950,000 barrels will be shipped in July in addition to one parcel of 863,000 barrels, one of 565,000 barrels and one of 490,00 barrels, traders of West African crude said.

Details of two 950,000-barrel cargoes of key benchmark grade Bonny Light crude have also filtered through to traders in the physical market.

The July loading schedule also shows nine cargoes of key grade Qua Iboe crude, all of which traders said had been delayed from June loading dates. The plan for June had at least 13 cargoes of Qua, containing 950,000 barrels each.

Plans which emerged last week indicate seven 975,000-barrel cargoes of Agbami crude and a parcel of 375,000 will also be shipped, plus nine cargoes of Akpo crude of the same size. Four Amenam cargoes will also be shipped, two of 950,000 barrels and two of 1 million barrels, traders said.

-By Angela Henshall, Dow Jones Newswires; +44 (0)20 7842 9285;

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