NNPC Raises August Selling Prices Of Crude Oil

The Nigerian National Petroleum Corporation has increased the prices at which two of the country’s major crude oil grades would be sold in August.

Most of the country’s September loading programmes emerged on Monday, but traders were still waiting for Angolan allocations, according to Reuters.

The NNPC on Monday raised its August official selling prices for Bonny Light and Qua Iboe crude oil to dated Brent plus 61 cents and plus 65 cents per barrel respectively.

The loading programmes for Bonny Light and Forcados will both have seven cargoes, Bonga will have four and Qua Iboe six.

Total loadings for the four key grades will be at 756,000 bpd in September up slightly from 743,000 in August.

As for the smaller streams, there will be three Akpo cargoes including one partial cargo, four Egina cargoes including one partial, three cargoes of Amenam, one cargo each of Yoho, Usan and EA as well as two Erha.

Bonny Light and Qua Iboe were being offered at about dated Brent plus 90 cents to plus $1.00.

The international oil price benchmark, Brent crude, rose by $0.14 to $43.28 per barrel as of 8pm on Monday.

Culled from Punch Newspaper