Tuesday, June 21, 2011

Nigeria to Reduce Exports of Agbami Crude by 1.3% in August


By Sherry Su

Nigeria, Africa’s largest oil producer, plans to export 7.7 million barrels of Agbami condensate, or light crude, in August, 1.3 percent less than July, a loading schedule obtained by Bloomberg News showed.

Agbami’s shipping program comprises seven cargoes of 975,000 barrels, one of 500,000 barrels and one of 375,000.

The West African nation will also export one consignment of 700,000 barrels of Abo crude and three 950,000-barrels of Yoho shipments, according to the plan.

Nigeria will export 12 cargoes of Qua Iboe, nine Bonny Light, eight Forcados, six Bonga, five Erha, four Brass River, three EA, two Okwori, one Okono and one Antan in August, according to the programs released yesterday. Cargo sizes range from 300,000 barrels to 1 million barrels.

Schedules of Akpo, Amenam, Escravos, Oso, and Pennnington grades will be released in coming days.

The country plans to ship 77 cargoes totaling 70.2 million barrels, or 2.27 million barrels a day, in July, according to the schedules.

Loading programs are monthly schedules of crude shipments compiled by field operators to allow buyers and sellers to plan their supply and trading activities.

To contact the reporter on this story: Sherry Su in London at lsu23@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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