Home Energy Nigerian oil exports to hit four-month high in October

Nigerian oil exports to hit four-month high in October

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LONDON, AUGUST 24, 2018 - Nigeria's oil exports are
expected to rise to their highest in four months in October,
thanks to supply of several larger grades coming back online
following a series of pipeline outages in the last couple of
months.   
    Loadings of Nigerian crude will rise to 1.73 million barrels
per day, from September's 1.41 million bpd. October's will be
the largest programme since June this year, but is smaller than
last year's 1.768 million bpd.
    The export plan comprised 57 cargoes, compared with 48
cargoes in September's loading schedule.     
    Both the Qua Iboe and the Forcados streams will load fewer
cargoes, while Bonny Light contains the same number of cargoes
and Escravos will load one extra. 
    Exports of these three major streams will drop 14 percent in
October to around 540,000 bpd from September's 630,000 bpd rate.
    The export plans showed several smaller streams will add at
least one cargo in October, including Pennington, Okwori and
Antan.
    Nigerian oil export plans are prone to revisions and delays,
with cargoes frequently pushed from one month to the next.    
    For an interactive graphic of exports of Nigeria's largest
crude oil streams, click here: tmsnrt.rs/2NcVtHW
 
    Below is a table detailing supply of each of the Nigerian
crude grades tracked by Reuters: 
    
 Grade       Oct       Mln bpd  Sept      Mln bpd 
             cargoes            cargoes   
 Abo             none     none      none       none
 Agbami             6  189,000         6    195,000
 Amenam             3   92,000                     
 Antan              1   31,000                     
 Bonga              6  184,000         5    158,333
 Bonny              5  153,000         5    151,667
 Light*                                   
 Brass              5  115,000                     
 River                                    
 EA                 1   31,000                     
 Ebok*           none     none                     
 Erha               3   92,000         4    126,667
 Escravos           6  184,000         5    158,333
 Forcados           9  201,000        10    225,000
 Okono                                             
 Okwori             1  113,000                     
 Pennington         1    31000                     
 Qua Iboe           6   184000         8    253,333
 Usan*              2    62000         3    100,000
 Okwuibome*         1   32,000                     
 Yoho               1    31000         2     41,667
 Total             57     1.73        48       1.41
    
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