Nigerian Crude Oil Exports to Hit 1.94m bpd in September

TransformationWatch

• Shell resumes Bonny Light production

Nigeria’s crude Oil export, excluding condensates will hit 1.94 million barrels per day by September, as Shell Petroleum Development Company (SPDC) joint venture plans to ship four cargoes of Bonny Light grade to the international market.
The country’s current export is about 1.84million barrels per day, down 140,000 barrels per day from the 1.96million barrels per day allocation given by the Organisation of Petroleum Exporting Countries (OPEC) as the country’s export quota.
However, the country currently ships about 2.6million barrels of crude oil and condensates to the export market as condensates are said to be excluded from OPEC quota.
The 1.94million barrels per day target by September is still 20,000 barrels per day below the country’s OPEC quota.

A shipping list obtained by Reuters showed that Nigeria will export four cargoes of Bonny Light crude oil in September to boost the country’s monthly exports…

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