Nigerian December crude loading programmes begin to emerge

Several Nigerian crude loading programmes emerged on Thursday, including Qua Iboe, the largest of the country’s supply streams.

The Qua Iboe stream will load eight cargoes of 950,000 barrels each, equal to 245,000 barrels per day in December, down from November’s 253,000 bpd rate. The Escravos, Amenam and Agbami programmes were among those that emerged earlier on Thursday.

Nigeria’s state-run NNPC has yet to issue its monthly official selling prices, meaning trade in the newly-launched December cargoes was limited, two traders said. Glencore has offered an early-November loading cargo of Qua Iboe at a premium of around $1.70 a barrel to dated Brent, above recent indications of closer to $1.60-1.65.

Source: Reuters

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