Nigeria will load around 1.93 million barrels per day of crude oil in February, trade sources said yesterday, meaning exports will be below the 2011 average even if the Bonga Oilfield returns to production promptly after a spill this week.
Traders according to Reuters News said it is unclear whether the Bongo grade willload the five cargoes or 161,000 barrels per day it is scheduled to load in January. It is due to load around 172,000 barrels per day in February.
The Amenam grade will load three tankers in February, traders said.
Angolan and Nigerian tankers for February loading have been selling rapidly, traders said, due to a burst of activity ahead of the European Christmas holidays as well as high Asian demand in the first quarter. A spot tanker was heard to have traded at dated plus $3.35 a barrel for February loading. One trader said that Exxon has sold its 3-4 tanker to Cepsa, although the level was unclear.
Meanwhile, Nigerian benchmark crude oil differentials jumped yesterday as traders bet that the closure of the Bonga deepwater facility will disrupt schedules loadings for early 2012.
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Nigeria to load 1.93m bpd in Feb.