Nigeria’s Egina crude hits market (SweetCrudeReports)

28 December 2018, Sweetcrude, Lagos A new Nigerian crude grade has hit the international oil market amid muted spot activity due to the Christmas holiday period.

The Egina crude from the deep-water Egina oilfield has been added to the February loading programme, according to Reuters report.

In another development, Nigeria’s oil marketing firm MRS issued sell tenders for cargoes of two other Nigerian crude grades.

The agency reported Thursday that the first cargoes from Total’s newly producing Nigerian offshore field, Egina, will load in February.

Total, China’s CNOOC and state oil firm, the Nigerian National Petroleum Corporation,  NNPC, will each have a cargo of Egina in February, traders said. No offers have yet been seen.

The Egina crude is being produced via the multi-billion dollar Egina floating production and offloading, FPSO, vessel which arrived the country in January this year from South Korea, where it was constructed.

The Egina oilfield is scheduled to produce 180,000 barrels of oil per day, which will rise to 200,000 barrels per day.

Reuters also reports that the oil marketing company MRS issued a sell tender for a cargo of Forcados loading Feb. 14-15 and a cargo of Amenam loading Feb. 10-11. The tender closes on Jan. 31.

Meanwhile, Angola’s state oil firm Sonangol was offering two cargoes of Dalia at dated Brent minus 30 cents a barrel loading Feb. 17-18 and Feb. 23-24.

Also, sixteen oil and gas firms have submitted applications for one or more of five Ghanaian offshore blocks in the West African country’s first exploration licensing round, its energy ministry said

Sinopec has suspended two top officials at its trading arm Unipec and is evaluating details related to certain crude oil transactions that have incurred some losses, the Chinese state oil company said on Thursday.

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