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BC-West-Africa’s-Oil-Exports-Slump-as-Nigeria-Angola-Flows-Falter , Bill Lehane and Julian Lee (Bloomberg) — West Africa’s oil exports slumped to the lowest level in at least three years last month, as infrastructure woes for some of Nigeria’s biggest streams combined with gradually waning output in Angola. Combined flows from the region fell to 3.41 million barrels a day in January from 3.8 million barrels a day in December, according to tanker-tracking data compiled by Bloomberg. It was the lowest for both countries since January 2018, when Bloomberg started monitoring shipments in detail. Nigeria — West Africa’s biggest oil producer – has seen its shipments curtailed in recent months by infrastructure issues affecting several of its biggest crude streams. The nation’s loadings fell to 1.37 million barrels a day in January, the lowest for four years, according to separate data based on loading schedules compiled by Bloomberg. Exxon Mobil Corp.’s Qua Iboe stream was placed under force majeure until late January following a fire in mid-December at the grade’s oil export terminal. Revised loadings of Qua Iboe slumped to about 61,000 barrels a day over December and January, the lowest rate in more than four years. Liftings averaged 190,000 barrels a day last year, the […]
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