Nigeria regains position as Africa’s largest oil exporter

0
298

Nigeria’s crude oil exports are set to reach 1.84 million barrels per day (b/d) in July, according to a report.

The new figure is slightly higher because of a recovery in Forcados exports, according to the nation’s loading programmes seen Wednesday.

Forcados exports resumed at the end of May after a nearly complete shutdown since February 2016.

Meanwhile, the grade’s operator, Shell’s local subsidiary, Shell Petroleum Development Company, SPDC, issued an initial June schedule of 197,000 b/d. It, however, increased the schedule to 252,000 b/d.

By the resumption, Nigeria returns to the status of Africa’s largest oil exporter, a title it lost to Angola in 2016. The loss followed militant attacks on the nation’s oil infrastructure in the oil-rich Niger Delta region.

Production has since improved, following peaceful negotiations with leaders from the region.

Angola’s July exports are expected to be 1.55 million b/d, Reuters reports.

With a force majeure in place on Bonny Light and loading delays of as much as 10 days, Nigeria’s export plans for June and July are likely to change.

LEAVE A REPLY

Please enter your comment!
Please enter your name here