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
================================================================
 

To contact the reporters on this story: Alexander Kwiatkowski in London

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