Skip to main content

Nigeria's Export Of Crude To Rise In March

By Michael Eboh, with Agency report

NIGERIA’s crude oil export is set to rise in March, a compilation of loading programmes showed yesterday.This, according to data obtained from Reuters, is coming on the heels of the lifting of force majeure declaredby some oil companies, while it added that the increase was in spite of the fact that the Nigerian National Petroleum Corporation, NNPC, raised the official selling prices for Nigeria’s crude oil gradesfrom more than 10-year lows, reflecting the stronger market.

The report, however, did not state the price at which the NNPC is selling  the crude oil grades. Several key grades, according to the report, were set to increase from the previous  month, including Bonny Light, Bonga, Forcados, Brass River and  Escravos, earlyloading programmes showed. The report said one of the 10 cargoes of Qua Iboe set for March loading was also deferred from the February programme, setting it slightly  higher than the previous month.Since the February export plan was issued, ENI has lifted its force majeure on Brass River crude, while Shell has reopened the Trans Niger Pipeline which carries Bonny Light to the export terminal. The report further noted that March exports already included 62 cargoes, or 56.7 million  barrels of oil, compared with the 59 cargoes and 55.2 million  barrels originally planned for February.

The barrels per day (bpd) total of 1.83 million was below February’s initially planned total of 1.9 million bpd, due to  the shorter month, but several programmes were still pending,  making March likely to surpass that figure.

Source :
http://www.vanguardngr.com/2016/01/nigerias-crude-oil-export-set-to-rise-in-march/

Comments

Post a Comment

Popular posts from this blog

Photo: How Goodluck Jonathan Remembers Yar' After 6 Years

The former President took to his twitter account as he remembers his former boss Late President Yar'adua. See his tweet.
Post a Comment
Read more >>

PHCN - More Blackouts As Electricity Drops To 1,580MW

The highly pronounced power failures across the country in the past few days may worsen following a partial system collapse that occurred on Tuesday, and the continuous drop in electricity generation due to what the government says is the vandalism of pipelines that supply gas to the power plants. As a result, power generation dropped to 1,580.6 megawatts on Wednesday.Data from the Nigeria Electricity System Operator as well as information from senior officials of the different electricitydistribution companies confirmed that power generation plummeted massively on Tuesday and Wednesday. The officials noted that this resulted in the reduction of the electricity load allocated to the Discos, stressing that this was why many parts of the country had been recording blackouts in the past few days.It was learnt that the partial system collapse that occurred on Tuesday happened at the Shiroro Power Plant and dragged down electricity generationto as low as 1,233.4MW from a peak of 3,207.7MW...
Post a Comment
Read more >>

Mikel Obi Donates N11million To Nigerian Olympic Team

Reports says that Chelsea's midfielder John Mikel Obi has donated $30,000 to the Nigeria Olympic group in Atlanta, prior to this coach Samson Siasia has been making noise of how the team lacks adequate funding and calling on the NFF to also pay his outstanding 5 months salary. It would be recalled also that it was an anonymous who paid their bills for 10 days they stayed in America. Mikel was named the skipper of the Olympic team in Rio.
Post a Comment
Read more >>