LONDON (Reuters) - Nigeria's Brass River crude can be exported via very large crude carriers (VLCCs) throughout the year, starting in April, after the completion of improvement works, market sources said on Thursday.
One VLCC can carry 2 million barrels of crude oil. Previously, the Brass terminal could handle ships up to half the size of the VLCC, or Suezmax vessels, during the wet season from April to October.
The sources said the restriction has now been lifted and VLCCs with up to 320,000 dead weight tonnes could use the Brass Terminal.
Brass River is operated by Italy's Eni. The company was not immediately available to comment.
"This is positive for sellers of Brass, particularly as some Indian buyers always ask for VLCCs, so Brass can now be entered into those tenders," one trader said.
"This is provided they are confident of reliable loading. Brass has suffered from attacks," the trader added.
Brass River is one of Nigeria's lightest quality grades and it is gasoline rich.
Despite the high quality, the crude was missed out from import tenders by Indian refiners and it was less popular among buyers than other Nigerian grades due to its shipping restrictions
India's state-refiners, such as Indian Oil Corp (IOC), have become the primary customers of the sellers of Nigerian crude as they buy millions of barrels every month via tenders.
Brass River also comes from onshore fields, which are more vulnerable to militant attacks than offshore fields.
The grade has been subject to delays due to pipeline sabotage before, which has cut out production.
Exports of the grade were around 125,000 barrels per day in January, according to preliminary loading programmes. This is well off output of nearly 200,000 bpd reached in 2005.
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