Unreliable loadings of many onshore Nigerian grades of crude oil have widened the divide between them and more dependable and openly traded offshore grades, reports Argus Global Markets, However, the general drop in production, allied with disruption to Libyan exports, has boosted the value of the light sweet Nigerian crudes still on offer (see Figure 1). Nigeria's onshore production is less visible to the market. Major oil firms that operate the fields tend to take crude straight to their refining systems. Shell's Bonny Light stream has been under force majeure since 15 April to allow for repairs to the Nembe Creek trunk line. Crude is starting to get through again, although the force majeure is still in place. Bonny Light exports rose to 125,000 b/d in September, after just 30,000 b/d loaded in August. However, the bulk has gone to the refineries of stakeholders Shell and Total.
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