Thursday, April 17, 2008

Angola

Angola Crude Oil Exports, Including Palanca, Fall 1.7% in June
By Alexander Kwiatkowski and Nesa Subrahmaniyan
April 17 (Bloomberg)

Angola's daily crude oil shipments, including the Palanca grade, will drop 1.7 percent in June.

BP Plc, Total SA, Chevron Corp., Exxon Mobil Corp. and other companies will ship an average of 1.92 million barrels a day in June, compared with 1.95 million barrels a day scheduled for May, according to the loading program. The schedule for Palanca cargoes had previously been unavailable.

Angola, which became a member of the Organization of Petroleum Exporting Countries in 2007, was given a daily production target of 1.9 million barrels at the group's meeting in Abu Dhabi last year. The country's oil output increased 18 percent last year to 1.61 million barrels a day, according to the International Energy Agency.

Sixty cargoes totaling about 57.6 million barrels will load in June, compared with 63 cargoes totaling 60.6 million barrels in May.

Angola's June loadings will include seven cargoes apiece for BP and Total, and six for Exxon Mobil. StatoilHydro ASA, Eni SpA and Chevron are scheduled to lift five cargoes. Galp Energia SGPS SA will load one cargo of Nemba crude.

State-run Sonangol SA has 22 cargoes, while Sonangol Sinopec International, a venture between the national oil company and China's biggest refiner, will load two Plutonio shipments.

Angolan oil comprised 5 percent of total U.S. crude imports in 2006, or 513,000 barrels a day, according to the Energy Information Administration.

Angola's cargoes typically range in size from 875,000 barrels to 1 million barrels apiece. Following is a table showing the number of Angolan crude cargoes scheduled to load in June and May.



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Grade Cargoes Total Bbls/Day Previous %Change

Cabinda 6 5,700,000 190,000 183,871 +3.3
Dalia 9 8,550,000 285,000 245,161 +16.3
Girassol 8 8,000,000 266,667 290,323 -8.1
Hungo 8 7,600,000 253,333 275,806 -8.1
Kissanje 8 7,600,000 253,333 245,161 +3.3
Kuito 2 1,750,000 58,333 56,452 +3.3
Mondo 3 2,850,000 95,000 91,935 +3.3
Nemba 8 7,600,000 253,333 275,806 -8.1
Palanca 2 1,970,000 65,667 95,323 -31.1
Plutonio 6 6,000,000 200,000 193,548 +3.3

Total 60 57,620,000 1,920,667 1,953,387 -1.7
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