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Nigerian oil exports for December up, still lag Angola

31 October 2013, 14:46

London - Nigeria's crude oil exports in December will be around 1.70 million barrels per day (bpd) falling behind Angola's for a second month in a row, preliminary shipping lists showed on Wednesday.

However, exports are set to be slightly higher than for November, as production from the Bonny Light crude oilfield is expected to rise to around 124 000 bpd from 77 000 bpd for November.

Nigerian oil exports were set to fall behind Angola's for the first month since records began in 2009 in November, and production issues have seen this trend continue into December.

Export figures for coming months could be supported as the Bonga stream comes back to full strength after being closed due to maintenance for November loading.

Traders will also watch for a further recovery in Bonny Light exports after Shell lifted a force majeure for the grade which had been hampered by oil theft and maintenance problems with the Trans Nembe Pipeline.

- Reuters

Tags oil

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