Nigeria’s oil exports to reach their highest level in six months in November

Nigeria’s oil exports will reach their highest level in six months in November, thanks in part to an increase in the supply of the country’s four highest crude grades, according to load programs.

According to reports by Reuters, total shipments of Nigerian crude would reach 1.876 million barrels per day in November, against 1.652 million barrels per day in October.

The November loading program will be the largest since May of this year and is 17% higher than last November’s 1.598 million bpd export schedule.

The export plan includes 59 cargoes, unchanged since October, and includes a cargo of Akpo condensate.

Exports of Forcados, Bonga, Bonny Light and Qua Iboe will reach 822,967 barrels per day in November, compared to 728,258 barrels in October. It will be the largest export program for the four since June.

The Agbami stream will add another cargo in November, while the supply of small grades will remain broadly unchanged.

France’s Total has launched its Egina offshore field this week, which is expected to come online in December and add another 100,000 billion barrels to Nigeria’s crude oil and condensate production by the end of the year, according to Malam Mele. Kyari, head of oil marketing oil company, Nigerian National Petroleum Corporation.

The production of Egina, an ultra-deepwater field, is expected to reach 200,000 b / d.

Oil export plans are subject to revisions and delays, with cargo frequently being pushed back from one month to the next.