A Review of the Nigerian Energy Industry

Nigerian crude exports to rebound in April

02 March 2013, Sweetcrude, Lagos – Nigeria will boost crude exports in April to 72 cargoes, seven more than the revised total for March; according to a communique from the just concluded Nigeria Oil and Gas Conference (NOG)

The communique said the prospects for the industry in Nigeria were not as gloomy as being predicted, adding that daily exports are scheduled to be 2.2 million barrels compared with 1.9 million in March in line with the Nigerian National Petroleum Corporation, NNPC, plans.

The March figure was the lowest in three years. The African nation will ship 65.86 million barrels, the schedule showed. That compares with 65 lots, or 59.77 million barrels. Shipments dropped to 1.8 million barrels a day in March 2010.

The country will export 11 consignments of its benchmark Qua Iboe grade in April, three more than a revised schedule for next month, according to the program. This includes four lots that were deferred from March. Exports of Bonny Light blend will rise by four to nine cargoes.

Nigeria will also ship seven cargoes of Agbami, six each of Bonga and Forcados, five each of Akpo and Usan, four of Brass River, three lots of Amenam, Erha and Escravos, two each of Antan, EA Blend, Okono and Yoho and one lot each of Abo and Okwori, the plans showed.

Loading programs are monthly schedules of crude shipments compiled by field operators to allow buyers and sellers to plan their supply and trading activities.

In this article

Join the Conversation

  • While we welcome this rebound, we hope that the lesson/message is not lost on the Nigerian leadership – revenue receipt from hydrocabon resources can dry up anytime, without warning. Fortunately, for Nigeria, the signs are all too omnious, all the country’s leadership has to do is take note and act fast and wise.

  • While we welcome this rebound, we hope that the lesson/message is not lost on the Nigerian leadership – revenue receipt from hydrocabon resources can dry up anytime, without warning. Fortunately, for Nigeria, the signs are all too omnious, all the country’s leadership has to do is take note and act fast and wise.