Tuesday, November 15, 2011

Nigeria to add three Bonny oil cargoes in December

* Amounts to an additional 92,000 bpd

* Extra cargoes partly offset by Qua disruptions

* Highest loading programme since September

By Emma Farge

LONDON,(Reuters) - Three extra tankers of Nigeria's Bonny light crude oil stream are due to load in December, traders said on Tuesday, adding nearly 3 million barrels to the loading programme.

The three extra cargoes of 950,000 barrels each are expected to load Dec. 8-9, 15-16 and 25-26, although traders said that they are waiting for final confirmation of dates.

The volumes amount to around 92,000 barrels per day and were allocated to Nigerian energy group Oando, trading house Vitol and Nigerian oil group Sahara, traders said.

"These are injection cargoes. They were probably there all along, just not put in the original programme," said a west African oil trader.

The revisions to the December programme left planned Nigerian supplies at 1.99 million barrels per day (bpd) and the highest forecast level since September, Reuters data showed.

The original loading programme forecast exports of 1.9 million bpd.

Monthly oil loading programmes are often subject to change since they are based on production forecasts. Bonny supplies have been variable in the past few months due to supply disruptions, prompting operator Royal Dutch Shell to declare force majeure in August.

The extra supplies were offset by lower expected volumes of the other main Nigerian grade Qua Iboe.

A tanker of the Qua Iboe grade has been dropped from the programme and at least one other cargo has been delayed, traders said on Monday.

Operator Exxon Mobil declined to comment.

Nigeria is Africa's top oil exporter and its high quality light, sweet crude oil is exported to Asia, Europe and the United States.

No comments:

Post a Comment