Lagos — Loading of Nigeria’s Bonga crude has bounced back after maintenance.
Loadings have attained 131,000 barrels per day, b/d, from 31,000 in January, Reuters reports, adding that another key Nigerian grade Forcados rose substantially to 297,000 b/d.
Two cargoes of Usan will load in February along with one Yoho, the report added.
It indicated that exports of Nigeria’s four key crude oil grades are set to
rise in February to 888,000 barrels per day from 759,000 b/d in January, according to loading programmes.
These are part of information that came as more February loading programmes for West African crude grades emerged on Monday although the market was subdued because of the holiday period, high freight rates and strong dated Brent which capped Asian demand.
Refineries in Asia have paid multi-year high premiums for sweet crudes produced in the region, especially from Malaysia as Western barrels have become expensive. Petronas is reported to have sold 300,000 barrels to Shell at Dated Brent plus $9.50 a barrel, according to Refinitiv research.
Equatorial Guinea will export two cargoes of Zafiro in February.
TENDERS
* India’s IOC issued a short tender after its last tender
for crude loading Feb. 1-10 did not secure a West African grade.
* India’s HPCL issued a new tender closing next week.
RELATED NEWS
* Kuwait’s oil minister said on Sunday he hoped Kuwait and
Saudi Arabia would resolve the Neutral Zone issue by the end of
2019.
