Bloomberg News

Angola to Boost Daily Crude Exports to 34-Month High in August

June 26, 2012

Angola, Africa’s second-largest oil producer, will boost its daily crude exports for August to the highest level in 34 months, according to a revised loading program obtained by Bloomberg.

The nation plans to ship 61 cargoes, totaling 58.01 million barrels, or 1.87 million barrels a day, the most since October 2009, the plan showed. This compares with 51 cargoes amounting to 1.58 million barrels a day in July.

One cargo each of Cabinda and Nemba grades were added to the preliminary schedule released on June 18, according to the revised plan. Shipments of Hungo, Kissanje, Mondo and Saxi blends are subject to change.

Oil shipments from the West African nation rose as output from the Pazflor field was increased amid limited startup flows from the Kizomba D Satellite fields, the International Energy Agency said in its monthly report on June 13.

Angola will ship one Gimboa and two Palanca cargoes in August, while no exports of the two grades were planned next month, the program shows.

The country will also boost exports of Girassol to six consignments in August, two more than July, according to the schedule. Planned maintenance at the 250,000 barrel-a-day field was forecast to curb output this month, the IEA said.

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

Details of the program are as follows. Cargo sizes are listed in multiples of 1,000 barrels.

----------------------------------------------------------------
Grade      Size       Number of cargoes
                        August   July
Cabinda     950         7         6
Dalia       950         7         7
            400         1         0
Gimboa      950         1         0
Girassol  1,000         6         4
Hungo       950*        6         5
Kissanje    950*        4         4
Kuito       920         2         2
Mondo       950*        2         2
Nemba       950         7         7
Palanca     985         2         0
Pazflor     950         7         6
Plutonio  1,000         6         6
Saxi        950*        3         2
Total                  61        51
---------------------------------------------------------------
*Note: Provisional

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


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