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.
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
Table detailing supply of each of the Nigerian crude grades tracked by Reuters
