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
Sign up for gCaptain’s newsletter and never miss an update
Essential maritime and offshore news, insights, and updates delivered daily straight to your inbox
Trade is agnostic, and because it is a physical entity that can be tracked, it can blast away the bluster of trade announcements. The reality is in the trade moving.
India is sending additional warships to the Gulf of Oman and Arabian Sea to ensure the safe passage of its vessels in anticipation that Iran may allow more of its fuel tankers to exit the Strait of Hormuz, people familiar with the matter said.
Ukraine and its European allies hit out on Friday at a U.S. temporary waiver to allow countries to buy sanctioned Russian oil and petroleum products stranded at sea, with Ukrainian President Volodymyr Zelenskiy warning it would fund Moscow's war machine.
Subscribe to gCaptain Daily and stay informed with the latest global maritime and offshore news
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
