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Free AccessNigerian Forcados, Bonga Loadings to Rise in May
Nigeria is scheduled to export 276kbpd of Forcados crude in May, the highest since January and up from a revised 227kbpd in April, according to a loading program seen by Bloomberg.
- Bonga loadings are planned to increase to 135kbpd in May, up from 105kbpd planned for April.
- Recent offers for some Nigerian grades have dipped, as higher supply has been dampening differentials, traders told Reuters.
- Nigerian Qua Iboe was last offered +$2.80/bbl to Dated Brent and Bonga was offered at +$4.50/bbl to Dated Brent, lower than the $3.20/bbl and $4.75bbl heard previously the traders said.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.