Markets

Angolan Oct oil exports set for 10-year low on Dalia works

Published August 16, 2016 Updated August 16, 2016 07:36pm

LONDON: Angola's crude oil exports are set to fall by 366,000 barrels per day (bpd) in October to 1.43 million bpd as a key grade enters maintenance, according to a provisional loading programme issued on Tuesday.

The programme's 46 cargoes mark a 10-year low in bpd terms, according to Reuters data, with the figure at its lowest since October 2006.

Exports in September were planned at just under 1.8 million bpd on 56 cargoes.

The main reason for the drop is an absence of Dalia crude oil, which in contrast was scheduled to export roughly 222,000 bpd in September. Traders have said this is due to maintenance that will cut exports from the Dalia stream

Other programmes, including Girassol, Nemba, Plutonio, Saturno, Sangos were one cargo shorter than their September plans, and there was also no Palanca in the October programme, compared with one cargo in September.

The longer month in October also pulled the bpd figure lower.

Copyright Reuters, 2016