Nigeria’s exports up in July on Forcados restart – loading plans

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LONDON, JUNE 14, 2017 - Nigeria's crude oil exports are
set to reach 1.84 million barrels per day (bpd) in July,
slightly higher month-on-month, because of a recovery in
Forcados exports, according to loading programmes compiled by
Reuters on Wednesday.

Forcados exports resumed at the end of May after a nearly
complete shutdown since February 2016. The grade's operator,
Shell's local subsidiary SPDC, issued an initial June
schedule of 197,000 bpd before increasing it to 252,000 bpd.

The resumption cemented Nigeria's return to the status of
Africa's largest oil exporter, a title it lost to Angola
following militant attacks on oil infrastructure in the oil-rich
Niger Delta region during 2016. 

Angola's July exports are expected to be 1.55 million bpd. 

But with a force majeure in place on Bonny Light, and
loading delays of as much as 10 days, Nigeria's export plans for
June and July are likely to change.

Cargoes of EA and Pennington were also added to the initial
June programme. Nigeria will also export four cargoes of Akpo
condensate in July, the same figure as in June. 
    
 Grade         July      Barrels per  June        Barrels
               cargoes   day          cargoes     per day 
 Abo           1         23,000       0           0
 Agbami        7         220,000      7           228,000
 Amenam        3         92,000       3           95,000
 Antan         0         0            1           32,000
 Bonga         7         215,000      6           195,000
 Bonny         6         164,000      7           203,000
 Light**                                          
 Brass River   5         114,000      5           110,000
 EA            1         31,000       1           32,000
 Ebok          1         19,000       0           0
 Erha          4         129,000      4           133,000
 Escravos      4         123,000      4           127,000
 Forcados      8         248,000      9           252,000
 Okono         1         29,000       1           30,000
 Okwori        1         21,000       1           22,000
 Oyo           1         11,000       0           0
 Pennington    0         0            1           30,000
 Qua Iboe      9         276,000      7           222,000
 Usan          3         92,000       2           63,000
 Yoho          1         31,000       2           63,000
 Total         63        1.836 MLN    61          1.835 MLN
 *Not yet available
**Grade under force majeure, schedule subject to change
DCSL 90X780

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