The Nigerian National Petroleum Corporation (NNPC) has expanded its export of four key crude oil grades for September to 756,000 barrels per day, two per cent higher than that of August, put at 743,000.
Smaller loadings will include three Akpo cargoes plus one partial cargo, three Amenam cargoes, four cargoes of Egina including one partial cargo and one cargo each of EA, Yoho, Erha as well as Usan, according to Reuters.
Bonny Light, Nigeria’s banner crude grade, and Qua Iboe, another major national grade, were being offered at around dated Brent plus 90 cents to plus $1.
Meanwhile, the corporation equally ramped up its official selling prices for Bonny Light BON-E and Qua Iboe crude QUA-E for the month of August to dated Brent plus 61 cents and plus 65 cents a barrel in that order.
Bonny Light’s and Forcados’ loading schedules will altogether have seven cargoes, with Qua Iboe having six and Bonga four.
Nigeria is expected to honour the Organisation of the Petroleum Exporting Countries (OPEC) quota by pumping around 1.37 million bpd in July, to make up for previous under-compliance.