Login   |   Blogs
Company News
Crude Oil Prices May Go Down in 1Q Next Year
Nigeria Oil & Gas News- PIB: Oil Majors in Race to Seal Deals
Crude Oil Daily Exporting May Increase In February
Vessels collision sparks massive oil spill
Company News
Crude Oil Daily Exporting May Increase In February
Post Date : 2009-12-29

Following the Federal Governments amnesty for repentant militants in the Niger Delta, Nigeria, a favoured supplier of oil to United States refiners, plans to export about 1.7 percent more of its 14 biggest crude types a day in February compared with the previous month, preliminary loading schedules show.

The amnesty programme has restored peace in the oil-rich region and boosted crude oil production. Shipments of Nigerias 14 biggest crude grades will average about 1.965 million barrels a day, or a total of 55 million barrels, according to the loading plans obtained by Bloomberg.

That includes at least four cargoes of Forcados delayed from January, meaning 1.931 million barrels a day will load in that month.Nigerian crude is the light, sweet variety of oil favoured by U.S. refiners for the quantity of gasoline it produces. Production is rising as the country restores output shuttered by rebel attacks earlier this year.The schedules for Pennington, Okono, EA and Abo crude exports in February are not available.

In January, exports of those grades are scheduled to average 203,226 barrels a day. Loading programs are subject to change. Nigeria has an Organization of Petroleum Exporting Countries production target of 1.673 million barrels a day. Minister of Petroleum Resources Dr. Rilwanu Lukman disclosed recently that the countrys crude oil production has hit 2.4million barrels per day. This however includes both crude oil and condensates, a by-product of oil production.

 

© 2009-2010 www.brassedge.com, All Rights Reserved.   Contact Us  |  Terms & Conditions  |  Privacy & Policy