Nigerian crude exports looked set for a boost on Tuesday after repairs to a key pipeline were completed, Reuters reports.
Repairs to Nigeria’s Nembe Creek Trunk Line, which exports Bonny Light, are complete, operator Aiteo said on Tuesday. Force majeure remained in place, Shell said on Tuesday, but a source said it could be lifted as early as Wednesday. A loading programme has yet to be issued, a trader said.
Offers of Nigerian crude were moving lower. Statoil was offering Usan on a delivered basis at dated plus $1.60, down 5 cents from a similar offer on Monday. Forcados was offered at dated plus $1.90, while a trader put the value 40 to 50 cents below that. Forcados shipments appear to be delayed. One trader said there were delays of 4-5 days.