Nigeria's oil export may drop in December
By Sulaimon Salau
AS against the progressive export schedules recorded of late since the surrender of arms tby militant groups in the Niger Delta, indication has emerged that Nigeria's crude oil export may fall in December.
Although, the export level in November was seen as very encouraging, as it recorded the highest crude oil output as well as export volume in the year, but the available preliminary schedule for December, as obtained by The Guardian predicts a sharp drop in export.
Specifically, the schedule signifies that about 39 oil cargoes would be exported from the nation's export terminals in the month under review, showing about 0.8 per cent decrease over November's loadings.
According to industry sources, the loading statistics for December indicate that Nigeria would export four Amenam cargoes, eight Agbami, four Akpo, seven Escravos, and three Yoho. It will export a total of eight cargoes of Brass River, including three full cargoes and five cargoes with smaller sizes.
The preliminary schedule, however, showed that an average of just over 306,000 barrels per day (bpd) of the Exxon Mobil-operated Qua Iboe stream will be exported in December, down from around 380,000 bpd in November.
Amenam is expected to load four 950,000-barrel cargoes in December, unchanged from November. Yoho will load three cargoes of 950,000, unchanged and Akpo condensate is set to load four cargoes of 950,000 barrels, also unchanged.
In November, Nigeria recorded the highest crude oil output of 77,027,340 barrels and condensates of 3,152,266 barrels, and exported 80,179,606 barrels of crude oil and condensates, hitting an all-time high since the beginning of the year.
The second highest monthly export volume this year was recorded in January, which witnessed exports of 72,591,461 barrels. September loadings recorded 11 Qua Iboe cargoes, down from 12 in August, while Bonny Light loaded five cargoes, down from six in August.
Agbami exported eight cargoes, or 252,000 bpd, steady from the previous month, while Yoho shipped three cargoes, the same as in August. Akpo reportedly loaded four cargoes, up from two in August.
In July Nigeria had nine crude oil production streams with data showing about 51 accredited cargoes of 950,000 barrels in the month as against 43 cargoes loaded in the previous month.
The July loading statistics for the Escravos production stream showed that six cargoes are due to load, up from five in both May and June.
The Bonga crude stream appointed six cargoes instead of five and Qua Iboe shows just over 10.5 as against eight in previous months. Forcados loaded five cargoes. The Agbami stream had slightly over seven full cargoes, up from around 6.5 cargoes in June.
However, six Bonny Light cargoes of 950,000 barrels, or around 184,000 barrels per day (bpd), reportedly loaded in July, up from at least four cargoes in June.
