https://www.engineeringnews.co.za

Nigeria to fall from top African oil exporter spot in May

Nigeria to fall from top African oil exporter spot in May

Photo by Bloomberg

27th March 2014

By: Reuters

  

Font size: - +

Oil theft looks set to push Nigeria off its spot as top African crude oil exporter in May and exports could fall to their lowest since records began in 2009, data indicated on Wednesday.

Nigerian exports in May are set to be at around 1.59-million barrels a day, excluding the Forcados and Ebok grades of crude oil, which had still not emerged.

Exports are far below the highs above 2.2-million barrels a day reached in 2011 and the May figure is set to fall beneath the exports of Angola, which is usually the continent's second largest exporter.

Angolan exports in May were set to be 1.67-million barrels a day, a provisional shipping list indicated. [ID:nL6N0ME3NL]

Production of the Forcados grade has been hit by under water pipeline leakage due to oil theft which led operator Shell to declare force majeure on the grade this week. [ID:nL4N0MM3HP]

The problems affecting Forcados are the latest in a string of theft-related outages at major Nigerian grades, with Bonny Light production severely affected for much of last year.

Planned exports in April were initially seen at 1.73-million barrels a day, but were revised up to 1.86-million barrels a day after additional Bonny Light cargoes were added.

Traders said that it was likely that there would be no exports of Forcados for May, although should the pipeline be fixed soon there could yet be a small volume of this grade, which could push shipments above Angolan levels.

Edited by Reuters

Comments

Showroom

SMS group
SMS group

At SMS group, we have made it our mission to create a carbon-neutral and sustainable metals industry.

VISIT SHOWROOM 
Aqs image
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.335 0.541s - 170pq - 2rq
Subscribe Now