W. Africa Crude-Angolan exports stay steady, Nigerian plans expected

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, April 18 (Reuters) - Angola will keep its June export volumes steady on May, preliminary export plans showed, as loading programmes for Nigerian crude for June was still awaited.



* Angola will export 33 crude oil cargoes in June, according to preliminary export programmes seen by traders, the same number as was planned for May.
* At least 3 cargoes of May loading crude remained unsold, in one of the swifter trading months since the pandemic began as Chinese buying rises and demand there is set to surge.
* Traders continued to await any potential impact to production a day after Exxon declared force majeure over its operations in Nigeria.
* Exxon is the operator of Qua Iboe, one of Nigeria's larger crude streams, along with much smaller streams Erha, Yoho and Usan.
* It was not yet clear whether export activities had been affected or whether the labour issue at the centre of the problem would persist.
* Offer prices were not markedly affected by the force majeure, traders said, with Qua Iboe still offered at well above dated Brent plus $2, traders said. (Reporting by Noah Browning; Editing by Shounak Dasgupta)


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