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* Angola to export 1.74 mln bpd in November * Export gap narrows between two producers * Two key Nigerian oil grades have been disrupted By Emma Farge and Simon Falush GENEVA/LONDON, Sept 17 (Reuters) - Angola's oil exports willrise to around 1.74 million barrels per day (bpd) in November, ashipping list showed on Tuesday, leaving supplies virtuallylevel with top African producer and fellow-OPEC member Nigeria. Nigeria is normally the continent's top exporter but aseries of theft-related supply disruptions on key grades such asBonny Light and Brass River have depressed flows ontointernational markets in recent months. In October, Nigeria is due to ship around 1.79 million bpdof oil, a shipping list showed, down from an average of over 2million bpd last year, according to Reuters data. The drop amounts to a potential $700 million in lost monthlyearnings versus the 2012 average, based on current Brent prices. In contrast, Angolan oil exports were up in October versusSeptember when planned exports were 1.70 million bpd afterrepairs at the Saturno platform operated by BP. The oil major lifted a force majeure on this grade earlierthis month and the October shipping list showed it would loadfive cargoes compared to four in September. A force majeure temporarily relieves a company from itscontractual duties due to events beyond its control. Still, Angolan exports are falling short of a target of 2million bpd set for 2013. Oil Minister Jose Botelho deVasconcelos said in December that was unlikely and he has sincebeen quoted as saying it may take place in 2014 or 2015. Nigeria has not yet released a figure for November exportsalthough these may improve following Eni's lifting of its Brassforce majeure on Sept. 2. Shipping lists are provisional and can be revised closer tothe loading date for exports. For a graphic showing historical loading programmes, clickhere: https://emea1.proxy.cp.extranet.thomsonreuters.biz/fingfx/2013/05/16/132004a7c1.htm For Angolan exports by crude grade in November, see below: Crude grade Cargoes Barrels per day* Cabinda 5 158,000 Girassol 6 200,000 Palanca 1 33,000 Nemba 7 200,000 Saturno 5 158,000 Xicomba 0 0 Kuito 2 61,000 Dalia 5 158,000 Hungo 5 132,000 Plutonio 5 167,000 Mondo 1 32,000 Kissanje 4 127,000 Saxi 2 63,000 Pazflor 7 222,000 Gimboa 1 32,000 TOTAL 56 1,742,000
12 Apr 2024 08:58
LONDON MARKET OPEN: Stocks get boost thanks to growth in UK economy
(Alliance News) - Stock prices in London opened higher on Friday, thanks to new data suggesting the UK economy is out of recession.
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