FILE PHOTO: The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria, September 28, 2016. REUTERS/Ramzi Boudina
National Liquid Hydrocarbon Production report of the Department of Petroleum Resources (DPR) has shown that Nigeria’s crude and condensate output in December fell nine per cent month-on-month to 1.52 million b/d, owing to production challenges at key export grade Qua Iboe.
According to the report, crude production fell to 1.17 million b/d last month from 1.33 million b/d in November. Condensate production, however, was up slightly, averaging 348,078 b/d in December from 339,920 the previous month.
Fire halts crude exports from Nigeria’s Qua Iboe terminal
Crude loadings of Nigeria’s key crude Qua Iboe have been temporarily halted due to a fire at the terminal, traders and Nigeria-based sources said Dec. 14.
Qua Iboe is Nigeria’s largest export grade and popular among global refiners, with India, the US, Canada, Italy, Spain, Indonesia, and the Netherlands being key buyers.
“There was a [fire] explosion yesterday and liftings have been suspended. I suspect it should be back by end of week,” said a West African crude trader.
A representative at ExxonMobil, which operates the Qua export terminal, confirmed the incident but said the company does not “anticipate any impact to operations.”