Nigerian crude oil exports likely to edge higher in February

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Loading programs have shown that Nigeria’s crude oil exports are on track to edge higher in February, due in part to deferred January cargoes, Reuters reports.

The loading program of 1.62 million barrels per day (bpd) on 50 cargoes comes despite only three cargoes of Bonga crude being planned, compared with seven in January. Traders said the field has planned maintenance in the second half of the month.

The original export plans for both January and December had been higher than the February program, but both fell short of the plans because of delays with several ExxonMobil-operated crude oil grades and the cancellation of Forcados cargoes after attacks on the export pipeline respectively.

 

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