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W. Africa Crude-Programmes emerge, trade slow as market weighs Libya outage

Published 20/01/2020, 18:27
© Reuters.  W. Africa Crude-Programmes emerge, trade slow as market weighs Libya outage

LONDON, Jan 20 (Reuters) - More Nigerian loading programmes

for March emerged on Monday though trade was slow as the market

focused on the Libyan oil port blockade.

* Refiners had to cancel cargoes after force majeure was

announced at almost all of Libya's terminals and will likely

have to seek alternatives. Libya exports mainly light, sweet

crude that is similar to many Nigerian grades.

* Bonga will have five cargoes in March, Bonny Light will

have eight and Forcados will have nine cargoes.

* Exports of Nigeria's four key crude oil grades are set to

rise in March to 922,000 barrels per day (bpd) from 888,000 bpd

in February, according to loading programmes. O/LOAD

* A large glut of over 35 Nigerian cargoes remains for

export in January and February.

RELATED NEWS

* Libya will face a "catastrophic situation" unless foreign

powers put pressure on eastern-based commander Khalifa Haftar to

lift a blockade of oilfields that has cut output to almost zero,

the country's internationally recognised premier said on Monday.

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