Сrude Oil Exports Drop By 10%

According to the estimates the total oil exports from Nigeria are expected to fall by 10 % in November, The Punch reports.

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In November plan Nigeria plans to export a total of 56.66 million barrels of oil, or 1.89 million barrels per day of crude oil. The calculations by Reuters show that comparing with October it will be a decline from the 63.1 million barrels, or 2.04 million bpd.

The data also show that the November's export will be the lowest since July on a per-day basis.

Abo, Agbami, Amenam, Antan, Bonga will  supply 23,000bpd, 228,000bpd, 63,000bpd, 47,000bpd, 190,000 bpd.

Last week a subsidiary of Exxon Mobil Corporation, Esso Exploration and Production Nigeria Limited ,stated that they had started oil production.

READ ALSO: Nigerian Crude Oil Exports Hit Another Record

The Erha North Phase 2 project offshore Nigeria. (a deepwater subsea development located 60 miles offshore Nigeria in 3,300 feet of water).

The project is estimated to develop an additional 165 million barrels from the currently producing Erha North field. Peak production from the expansion is currently estimated at 65,000 barrels of oil per day and will increase total Erha North field production to approximately 90,000 barrels per day.

According to the Nigerian National Petroleum Corporation (NNPC) India’s import of crude oil from Nigeria hit a record high in April.

Nigeria’s largest oil importer hit a record high (20.373 million barrels) in April. However, imports from India fell to 7.765 million barrels in March while in August, October and November last year imports stood at 16.349, 13.7 and 12.4 million barrels respectively.

Source: Legit.ng