Yemisi Izuora
There are indications showing that Nigeria’s oil exports would likely fall in July to just 1.43 million barrels per day (bpd), according to loading plans on Monday, the lowest level so far this year.
The export plan comprised 48 cargoes, compared with 60 cargoes and a daily rate of 1.796 million bpd in June, due in part to an outage on the Bonny Light stream which has been under force majeure for a month.
July’s export plan also includes four cargoes of Akpo condensate with 123,000 bpd, compared with four cargoes in June with 133,000 bpd. The export plans showed one extra cargo of Agbami than in June, as well as one more Bonga and an extra Qua Iboe.
It also shows 3 fewer Forcados and one fewer Escravos. A number of smaller streams showed no cargoes would load in July. Nigerian oil export plans are prone to revisions and delays, with cargoes frequently pushed from one month to the next.