New Crude Oil Export Grade Arises Out Of Nigeria Attacks

A new Nigerian crude export grade has emerged in the past few months as Africa’s biggest oil producer struggles to overcome the impact of militant attacks on one of the country’s key crude blends in the Niger Delta, Platts reports.

Called Forcados Light, the new crude is independent of the regular export grade, Forcados Blend, and is being shipped via a terminal at the country’s.....
125,000 b/d Warri refinery. Loadings of the popular export grade Forcados, also commonly known as Forcados Blend, are normally carried out through the Shell-operated Forcados terminal in the Niger Delta. 

But they have been out for several months over the past year due to attacks in February and November leading to a declaration of force majeure on deliveries.
The crude for the new grade comes from OMLs 4, 38 and 41 in the Delta State, operated by indigenous producer Seplat Petroleum. The company confirmed that crude is being sent from these fields via a 100,000 b/d pipeline to available storage tanks at the Warri refinery and sold on a FOB basis to Seplat’s offtaker, Mercuria, at the plant’s jetty.

 Traders said exports are currently around 10,000-15,000 b/d, with a cargo being exported every four to six weeks.

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