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Nigeria to Cut March Daily Crude Oil Exports by 1%, Plans Show

Category: Nigeria Economy

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Nigeria to Cut March Daily Crude Oil Exports by 1%, Plans Show

January 31, 2012

Nigeria, Africa’s largest crude producer, plans to cut its daily exports for next month by 1 percent from February, according to shipping plans obtained by Bloomberg News.

Shipments will total 65.7 million barrels, or 2.12 million barrels a day, compared with 2.14 million barrels a day for next month, according to the programs.

The country will ship a total of 72 cargoes, four more than this month. The March program comprises 13 cargoes of Qua Iboe, eight Forcados, seven Agbami, six Bonny Light, five Bonga, five Akpo, four Escravos, four Brass River, four Erha, three Amenam, two Pennington, two Antan, two Okwori, two Okono, two EA, two Yoho and one Abo, the schedules showed. Most consignments are for 950,000 barrels.

Loading programs are monthly schedules of crude shipments compiled by field operators to allow buyers and sellers to plan their supply and trading activities.

Source: Bloomberg

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