Bloomberg News

Nigeria March Crude Exports to Decline to Lowest in Four Months

January 22, 2013

Nigeria, Africa’s largest oil producer, will reduce crude exports in March to the least in four months, according to preliminary loading programs obtained by Bloomberg News.

Daily exports are scheduled to be 2.05 million barrels compared with 2.16 million in February, according to the plans. The African nation will ship 69 cargoes in March, totaling 63.57 million barrels, the schedule showed. That compares with 65 lots, or 59.49 million barrels, due to be shipped next month.

The country will export 12 consignments of its benchmark Qua Iboe grade in March, two more than a revised schedule for next month, according to the program. The total includes three lots that were deferred from February. Exports of Bonny Light blend will fall by two to five cargoes.

Nigeria will also ship eight cargoes of Forcados, seven of Agbami, five each of Akpo and Bonga, four of Brass River, three lots of Amenam, Erha, Escravos and Usan, two each of Antan, EA Blend, Okono and Yoho and one lot each of Abo, Okwori and Pennington, the plans showed.

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: Rupert Rowling in London at rrowling@bloomberg.net

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


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