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Nigeria to Raise January Forcados Crude Exports; Bonga Unchanged

Nigeria, Africa’s largest oil producer, plans to increase exports of Forcados crude to eight cargoes in January, one more than December, according to a loading program obtained by Bloomberg News.

Shipments will total 6.51 million barrels, with cargoes ranging from 250,000 barrels to 1.045 million, the program showed. That compares with 4.55 million in December.

The nation also plans to ship five consignments of about 1 million barrels of Bonga crude in January, unchanged from next month’s plan, a separate loading program showed. The schedule for Qua Iboe, the country’s benchmark grade, isn’t yet available.

Loading programs are monthly schedules of crude shipments compiled by field operators to allow buyers and sellers to plan their supply and trading activities.

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