Indications have emerged that Nigeria will export about 52 cargoes of crude oil in June, representing a drop from 55 cargoes slated for May in the futures market. The preliminary loading schedule showed that the nation will be exporting about 1.57 million barrels per day (bpd) during the period as against 1.6 million bpd recorded in May. This is coming as about 20 May cargoes remained available, while some traders re-offered previously sold cargoes. Grades available included Escravos, Bonny Light and Qua Iboe. Analysts believed that this might be the lowest export level this year, just as the Shell’s operated Forcados grade remained under force majeure due to damages to the Trans Forcados pipeline early February.Reports predicted that repair works on the pipeline that feeds Forcados terminal will take until June. The exports plan did not include Erha, which is the subject of a disagreement between ExxonMobil and the […]