There are indications that Nigeria’s oil exports would drop in July to 1.43 million barrels per day (bpd),
According to loading plans released on Monday, the July output will be lowest level so far this year.
Specifically, the export plan comprised 48 cargoes, compared with 60 cargoes and a daily rate of 1.796 million bpd in June.
The sharp drop in export volume projected for July is attributed partly to an outage on the Bonny Light stream which has been under force majeure for a month.
The July’s export plan also includes, four cargoes of Akpo condensate with 123,000 bpd, compared with four cargoes in June with 133,000 bpd.
Other highlights contained in the export plan are that there will be one extra cargo of Agbami than in June, as well as one more Bonga and an extra Qua Iboe.
The plan further indicated that three fewer Forcados and one fewer Escravos would be recorded in the month under projection when compared with the June export performance level.
In addition, the Plan showed that no cargoes would load in a number of smaller streams during the month.
The nation’s oil export plans are usually prone to revisions and delays, with cargoes frequently pushed from one month to the next.