Argentina raises crude imports from Nigeria

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Two tankers carrying 3 million barrels of Nigerian and Angolan crudes set sail this month to Argentina to feed its domestic refining network, pushing the country’s imports close to 2015 level, according to sources and Thomson Reuters data.

Argentina last year received some 6 million barrels of imported crude, mostly African medium and light grades bought by independent refiners on the open market. Including the latest tankers, this year’s haul is about 5.8 million barrels. The very large crude carrier (VLCC) New Vanguard chartered by Royal Dutch Shell and loaded with 2 million barrels of Angola’s Nemba crude and Nigeria’s Bonny Light crude is expected to arrive in Argentina this month, according to Thomson Reuters vessel tracking data.

Shell’s unit in Argentina, Axion Energy and Pampa Energia will share the crude to be processed at their refineries, according to a source from one of the companies receiving the oil. A smaller cargo carrying 1 million barrels of Nigerian crude is also expected this month, a government source said, without adding details on sellers, buyers or specific grade.

 

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