Our site uses cookies to facilitate your visit. By continuing, you agree to our use of cookies.

Cookie compliance notification

List of Cookies used on Argus Media

Analytics Cookie

These cookies allow us to count page visits and traffic sources so we can measure and improve the performance of our site, using a service provided by Google Analytics. The analytical cookies are non-intrusive, which explains why they are already set when a user accesses this website.

Cookies used: __utma, __utmb, __utmc, __utmz, __SC_ANALYTICS_GLOBAL_COOKIE, __SC_ANALYTICS_SESSION_COOKIE

Compliance Cookies

This cookie is placed if you click the Hide button in this message. It tells us you have read the message and stops this message from displaying.

Cookies used: CookieLawCompliance

Functional Cookies

These cookies are used to enable core site functionality like login and logout. They do not contain any personal information and are automatically deleted when you close your browser.



In Japan? You can go to Argus Japan


Extra cargo boosts new Nigeria field

9 Mar 2012, 1.11 pm GMT

Extra cargo boosts new Nigeria field

London, 9 March (Argus) — April loading of the new offshore Nigeria medium sweet Usan grade has been boosted by an extra cargo, taking the amount for April export to 127,000 b/d in four cargoes.

Loading dates for April have also been revised. The first cargo is loading between 1-7 April, which Total has sold to Cepsa of Spain, the 8-9 April cargo is with ExxonMobil, the 17-18 April cargo is with Glencore and the 26-27 April cargo is with Vitol. ExxonMobil had put its cargo up for tender, but bids were too low for the major's liking, and it is now offering the cargo on the spot market. Glencore's cargo is already committed, while Vitol is making its cargo available on the spot market.

The grade is trading at a price just below Atlantic basin benchmark North Sea Dated, although offers have been seen as high as 30¢ above the benchmark. Usan is API 30.1°, 0.26pc sulphur and is higher in acidity than most Nigerian grades, with a Tan value of 1.47. It has a high yield of gasoil as well as good properties of naphtha and kerosine. Joint operators Total, Chevron, ExxonMobil, and Canadian independent Nexen aim to push maximum production to 180,000 b/d at the deepwater field. The field infrastructure has a storage capacity of 2mn bl and uses a floating, production and storage and offloading vessel.

Send comments to feedback@argusmedia.com
jw/ts 2.4

If you would like to review other ArgusMedia.com content options, request more information about Argus' energy news, data and analysis services.

Copyright © 2012 Argus Media Ltd - www.ArgusMedia.com - All rights reserved.

View more news articles

Contact Us

Please enter your details below to request a callback to discuss an Argus product:

I agree to the Argus privacy policy

Subscribe to our blog for updates and analysis on the latest developments in the global oil industry.


Tanker at Night