Wednesday, November 19, 2008

Angola Oil Exports to Fall 6% in January on OPEC Cut (Update1) By Alexander Kwiatkowski and Nesa Subrahmaniyan

Angola Oil Exports to Fall 6% in January on OPEC Cut (Update1)

By Alexander Kwiatkowski and Nesa Subrahmaniyan

Nov. 18 (Bloomberg) -- Angola will reduce daily crude shipments by 6.4 percent in January as Africa's second-biggest producer complies with OPEC cuts.

BP Plc, Total SA, Chevron Corp., Exxon Mobil Corp. and other companies are scheduled to load an average of 1.86 million barrels a day, down from December's schedule of 1.98 million barrels, according to loading programs.

The Organization of Petroleum Exporting Countries last month decided to cut crude production by 1.5 million barrels a day in an attempt to stem the slump in oil prices. Angola, which joined the producer group last year, agreed to trim its output by 99,000 barrels a day.

Sixty cargoes totaling 57.5 million barrels are set to load, down from 64 cargoes of 61.5 million barrels in December. Shipments of Hungo, Kissanje, Nemba, Plutonio and Saxi will fall by at least one cargo. Kuito loadings are scheduled to rise.

Oil from Angola accounted for about 5 percent of total U.S. crude imports in 2007, or 496,000 barrels a day, according to the Energy Information Administration.

Following is a table showing scheduled loadings of Angolan crude in January. Loading programs are subject to change.


================================================================
Grade Cargoes Total Bbls/Day Previous %Change

Cabinda 6 5,700,000 183,871 183,871 0.0
Dalia 8 7,600,000 245,161 245,161 0.0
Girassol 8 8,000,000 258,065 258,065 0.0
Hungo 7 6,650,000 214,516 245,161 -12.5
Kissanje 7 6,650,000 214,516 245,161 -12.5
Kuito 3 2,625,000 84,677 56,452 +50.0
Mondo 3 2,850,000 91,935 91,935 0.0
Nemba 7 6,650,000 214,516 245,161 -12.5
Palanca 2 1,970,000 63,548 63,548 0.0
Plutonio 6 6,000,000 193,548 225,806 -14.3
Saxi-Batuque 3 2,850,000 91,935 122,581 -25.0
Xikomba 0 0 0 0 n/a

Total 60 57,545,000 1,856,290 1,982,903 -6.4
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To contact the reporters on this story: Alexander Kwiatkowski in London

http://www.bloomberg.com/apps/news?pid=20601116&sid=a._IwPFuPdzI&refer=africa
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