Loadings of Nigerian Bonny Light crude, which have already been under force majeure for a month, were likely to be further delayed by the closure of a key pipeline, traders said on Monday.
The Nembe Creek Trunk Line, which carries Bonny Light, closed on Friday for repairs, operator Aiteo said on Monday. A source with knowledge of the matter said the Trans Nigerian Pipeline, a second line that carries Bonny Light remained open.
It was not clear when the Nembe Creek pipeline would reopen.
NIGERIA
Traders said there were at least three tankers that were due to load Bonny Light this week and next, with oil deferred from the May loading programme. But any liftings would likely be subject to delays of two to three days because of the pipeline closure, they said.
Shipments of Bonny Light remained subject to force majeure, according to a Shell spokesman on Monday. Exports have been under force majeure for a month following a leak further up the pipeline.
Between 30 and 33 cargoes were still available for sale from the 48-strong Nigerian July programme, which was likely to keep differentials under pressure, traders said.
ANGOLA
Sonangol was believed to have sold out of its July cargoes. The August loading programme is due this week.
STORIES
India’s domestic sales for diesel and gasoline rose to record highs of 18.72 million tonnes in May, according to data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed on Saturday.
Germany spent 12.6 billion euros ($14.88 billion) on crude oil imports in January-April, up 15.6 percent year on year, while the volume was 1.6 percent lower, BAFA foreign trade office data showed.
TENDERS
India’s MRPL did not award a tender for 600,000 barrels of sweet crude loading in early August, traders said.
India’s IOC was said to be seeking light, sweet crude for delivery between Aug. 5-15, trading sources said.