Bloomberg News

Nigerian Usan Oil Shipments Raised to Four Cargoes in April

March 09, 2012

Exports of the new Nigerian Usan crude were raised to four 950,000-barrel cargoes in April from the original plan for three lots, according to a revised loading program obtained by Bloomberg News.

Vitol Group will receive the extra cargo, the plan shows. Total SA (FP), the operator of the field, Exxon Mobil and Glencore International Plc were allocated one shipment each.

Exxon Mobil is offering its cargo for April 8 to April 9 at 30 cents a barrel more than Dated Brent, after failing to sell it via a tender, said two traders who declined to be identified because they aren’t authorized to speak on the matter.

Total sold its shipment on March 2 through a tender to Cia. Espanola de Petroleos SA, or Cepsa, according to three traders who participate in the market.

The French company announced the start of production at Usan in an e-mailed statement on Feb. 24. The field has a capacity to pump 180,000 barrels a day.

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

To contact the reporter on this story: Sherry Su in London at lsu23@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net


Best LBO Ever
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus