LONDON (Dow Jones)–Two cargoes of Nigerian Usan crude have been delayed from May to June, traders told Dow Jones Newswires Monday.
The Total SA (TOT)-operated Usan field came on-stream in February and is designed to produce 180,000 barrels of oil a day. The delays mean that exports in May will average out to just 61,000 barrels a day over the course of the month, according to the May loading program.
Traders said it was not unusual for new streams to face teething problems, though one added that “it’s not helpful for establishing grade value to have cargo delays on initial startup.”
Total was not immediately available to comment.
By Sarah Kent, Dow Jones Newswires