Nigeria cuts exports of Bonga crude for February
By Abimbola Abdullahi
Nigeria is set to export 68,000 barrels per day (bpd) of Bonga crude oil in February, down from 123,000 bpd planned for January, according to a preliminary export programme seen by traders.
This is coming after the Nigerian National Petroleum Corporation (NNPC) slashed it’s official selling prices (OSPs) for Bonny Light and Qua Iboe crude oil January loadings.
According to a Reuters, Bonny Light and Qua Iboe crude oil dated Brent is plus 24 cents and plus 34 cents per barrel, respectively in January.
The December differential for Bonny Light was plus 33 cents and for Qua Iboe plus 40 cents per barrel.
Loading programmes had earlier showed that exports of four of Nigeria’s main crude oil grades rises in December to 564,000 barrels per day (bpd) versus 507,000 bpd planned for November.
