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NIGERIA Resumes Position as Africa’s Largest Exporter of Oil







MLN gathered that Nigeria’s crude oil exports are set to reach 1.84 million barrels per day (bpd) in July.
The new figure is slightly higher because of a recovery in Forcados exports, according to the nation’s loading programmes seen Wednesday.

Forcados exports resumed at the end of May after a nearly complete shutdown since February 2016.
Meanwhile, an initial June schedule of 197,000bpd then an increment of 252,000 bpd was issued by the grade’s operator, Shell’s local subsidiary SPDC.

By the resumption, Nigeria returns to the status of Africa’s largest oil exporter, a title it lost to Angola in 2016 as a result of militant attacks in the Niger Delta region.
Production has since improved, resultant from peaceful negotiations with leaders from the region.
Angola’s July exports are expected to be 1.55 million bpd, Reuters reports.
With a force majeure in place on Bonny Light, and loading delays of as much as 10 days, Nigeria’s export plans for June and July are likely to change.

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