Nigerian oil exports up, refinery plan unveiled

ABUJA, June 22, 2017 – Nigeria is expected to export more than 2 million bopd in August, the current loading plans for the summer month indicate.

The planned cargoes, 2.02 million bopd so far, would mark the highest export volume since March 2016. Nigeria’s crude exports are bolstered by the resumption of Forcados loadings.

However, the levels surpassing the 2-million-bopd mark is also due to delays on a number of July loadings of Bonga, Bonny light and Qua Iboe cargoes. These have been rescheduled for August.

In other news, Nigerian National Petroleum Corporation (NNPC) on Thursday said that Indonesia’s Intim Perkasa has expressed interest in building a refinery in the country.

According to an NNPC statement, the modular facility would be built in Akwa Ibom state and have a capacity of 10,000 bpd.

NNPC Group Managing Director Maikanti Baru said the Indonesian plan would compliment the company’s efforts to attract third-party investment and expertise for the refining sector.

NNPC also aims to raise the refining capacity utilisation rate to 90% over the next 24 months, local media quoted Baru as saying.

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