FG to export 76 crude cargoes in May

The Federal Government will increase crude oil exports to 76 cargoes in May, according to the final loading programme.

The figure compares with 66 shipments due to be exported this month, according to a revised plan for April. Three Bonny Light cargoes, two lots of Brass River and one Okono consignment have been deferred to May from April.

Our correspondent gathered on Tuesday that the Nigerian National Petroleum Corporation was also working out measures to boost the exploration and export of crude, despite the massive oil theft going on in the sector.

'The NNPC has been working on boosting crude export and the Group Managing Director sees this as very important,' the General Manager, Media Relations Department, Group Public Affairs Division, NNPC, Mr. Omar Ibrahim, told our correspondent in Abuja.

The final loading programme, which was obtained by Bloomberg News, indicated that the country planned to ship 11 consignments of Qua Iboe, nine of Forcados, eight each of Bonny Light and Agbami, five each of Akpo, Bonga and Brass River, four of Erha, three each of Amenam, Escravos, Usan and Yoho, two lots of Abo, Antan and Okwori, and one each of EA Blend, Okono and Pennington in April.

The May programme totals 65 million barrels, or 2.1 million barrels a day, versus 60.2 million, or two million a day scheduled for April.

Royal Dutch Shell Plc lifted a two-week force majeure on Bonny Light exports on March 19.

This is because the country has been hit by rising oil theft and the Nembe Creek Trunkline will close in April to clear points along the link that are vulnerable to thieves, according to Shell.

Similarly, Agip Oil, on Monday, announced the suspension of its operations in Bayelsa State because of the high level crude oil theft perpetuated by vandals across its installations in the state.

Loading programmes are monthly schedules of crude shipments compiled by field operators to allow buyers and sellers to plan their supply and trading activities.