UPDATE 1-Nigeria, Angola cut oil export programmes to meet OPEC deal

(Adds more Nigerian cuts and Angolan schedules)
By Julia Payne
LONDON, April 29 (Reuters) - African oil producers Nigeria
and Angola have revised down their crude oil export programmes
for May and June to align themselves with a global production
cut deal led by OPEC, loading programmes showed.
The Organisation of Petroleum Exporting Countries and its
allies, OPEC +, agreed to cut their combined output by 9.7
million barrels per day (bpd), or 23% each in May and June, from
an agreed baseline.
The deal was agreed earlier this month to support prices as
demand has plunged by as much as a third due to global lockdowns
to contain the spread of the coronavirus.
Angola's May programme was revised down to 41 cargoes, or
1.27 million barrels per day (bpd), from 45 cargoes initially
published in its preliminary schedule. This translates to a
production cut of around 10% versus its pre-deal March volume.
The final June schedule was reduced to 39 cargoes or 1.25
million bpd. The emergence of Nigeria's June loading programmes was
severely delayed due to wrangling between producers and state
firm NNPC on how cuts should be implemented. The schedules, issued by the operators, have been slowly
trickling out. Those grades run by Exxon Mobil were the first to
emerge showing some steep cuts.
Still missing are the schedules for key grades sent out by
Royal Dutch Shell that has the largest footprint in the country.
Exxon operates one of Nigeria's key grades, Qua Iboe, which
has seen planned exports slashed in June to 95,000 bpd compared
with an original May programme of 215,000 bpd.
In addition, two May cargoes of Qua Iboe have been deferred
to June.
The U.S. major also operates several smaller offshore fields
in Nigeria - Erha, Yoho and Usan. May cargoes for the three
grades have been rolled into the following month and only Yoho
has a dedicated June schedule of one 350,000 barrel cargo.
In Equatorial Guinea, Exxon has also just deferred two
Zafiro cargoes instead of providing a June programme.
Chevron's Nigerian grade Agbami will load fewer cargoes in
June at four cargoes versus five cargoes in the previous two
months. One May cargo has been deferred to June.
On Wednesday, schedules for Total's Nigerian Egina and
Amenam grades also showed declines.