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Nigeria to Export Five Brass River Crude Cargoes in January

Nigeria, Africa’s largest oil producer, plans to export five Brass River crude cargoes in January, including four deferred from December, according to a loading program obtained by Bloomberg News.

The January program comprises two shipments of 950,000 barrels, two of 450,000 barrels and one of 620,000 barrels, the plan showed. Exports for December were revised down to one lot of 950,000 barrels, a separate plan showed.

Eni SpA declared force majeure, a legal step that protects a company from liability when it can’t fulfill a contract for reasons beyond its control, on Brass River exports, the company said in an e-mailed statement on Nov. 8.

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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