Nigeria Aims To Export 2.5M B/D Crude In Aug - Trade

http://online.wsj.com/article/BT-CO-20100622-708360.html

LONDON (Dow Jones)--Crude export programs from Nigeria's state oil company show it plans to ship at least 2.5 million barrels of oil a day in August, traders who have tracked details of the provisional plans said Tuesday.

Schedules for about 72 cargoes have already been distributed to the market but details for a few crudes are still missing, including Abo, they said.

This is an ambitious monthly volume to achieve after a series of disruptions at key fields in the past two months. It is likely there will be some revision to plans during July as the program outlined details one of the largest total volumes seen in several months, traders said.

The plans show it will export 11 cargoes of benchmark Qua Iboe crude, five cargoes of Bonny Light, eight Forcados stems, six Bonga cargoes, one Abo stem, six Brass cargoes, four EA stems, two Okono cargoes, and three Yoho stems.

Nigeria is one of Africa's largest energy exporters and a member of the Organisation for Petroleum Exporting Countries, its current quota stands at 1.673 million barrels a day.

In July, the country is expected to export around 2.25 million barrels a day, according to Dow Jones Newswires' calculation.



Nigeria Crude Oil Exports

Grades Size Aug July June May

('000 Bbl) (Cargoes)(Cargoes)(Cargoes) (Cargoes)

Abo 700 1 0 N.A. 2 Agbami 975 8 8 7 8 750 0 0 1 0 Akpo 975 9 6 5 4 Amenam 1,000 2 2 2 0 950 0 2 2 4 Antan 950 1 N.A. 1 1 600 0 N.A. 1 0 450 1 N.A. 0 1 250 0 N.A. 1 1 Bonga 1,000 0 6 5 5 950 6 0 0 0 Bonny Light 1,000 4 0 3 0 950 1 6 1 6 300 N.A. N.A. 1 0 Brass River 950 3 3 3 3 863 0 1 0 0 775 1 0 0 0 680 0 0 0 1 565 1 0 0 0 550 0 0 1 0 490 0 1 0 0 300 0 0 1 1 250 1 0 0 0 100 1 0 0 0 EA 950 4 0 0 2 Erha 997.5 0 5 0 0 950 4 0 N.A. 5 Escravos 950 6 6 5 5 Forcados 1,000 3 0 2 0 950 5 7 5 3 Okono 950 2 0 0 2 900 0 2 2 0 Okwori 650 2 1 1 1 550 0 0 0 1 350 0 1 0 0 300 0 1 2 1 Oso 950 0 0 0 1 Pennington 950 0 0 1 1 Qua Iboe 950 11 9 13 12 500 0 0 0 1 Yoho 950 3 3 3 4 Total Cargoes 76 71 69 76 Vol(mln b/d) 2.5 2.25 2.06 2.2

Sources: Traders

-By Angela Henshall, Dow Jones Newswires; +44 (0)20 7842 9285; angela.henshall@dowjones.com