Nigeria Crude Supply (July 2010)

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Nigeria Crude Supply (July 2010)

Post  nex on Wed Jul 28, 2010 5:07 pm

* Qua Iboe reported sold around dated Brent +$1.80
* Amenam exports fall due to technical issue
* Gasoline margins weaken could pressure light grades

LONDON, July 28 (Reuters) - September loading Nigerian crude
oil cargoes were trading at similar differentials to the end of
last month but weaker refining margins could pressure lighter
grades later this week, traders said.
Nigeria's crude oil exports are set to top 2 million barrels
per day for the third month running in September, trade sources
said on Wednesday, as Africa's largest energy producer improves
output reliability. [ID:nLDE66R1K5]
Nigeria will export an average of 2.10 million bpd of crude
oil in September, up slightly from a revised 2.08 million bpd in
August, according to data from oil companies and traders.

NIGERIA
* Qua Iboe: Unipec sold its September 8-9 loading cargo
close to dated plus $1.80, traders said.
* Erha: Exxon sold Vitol its September 13-14 cargo. No price
details were available but traders valued the grade at around
dated plus $1.90.
* Amenam: Total said on Wednesday that Amenam production has
been reduced slightly due to a technical issue.
Amenam crude output in August and September was expected to
average around 90,000-95,000 barrels per day (bpd), down from
the 120,000 bpd originally planned, trade sources said.

TENDERS
Taiwan's CPC Corp has issued a tender to buy
September-loading West African sweet crude, a trade source said
on Wednesday.
The tender closed on Tuesday, with bids remaining valid
until Thursday.
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