November 27, 2018 / 4:52 PM / 13 days ago

W. Africa Crude-Nigerian Bonny exports set to dip in January

LONDON, Nov 27 (Reuters) - Exports of Nigeria’s Bonny Light crude oil will fall to a two-month low in January, according to loading programmes seen by trading sources on Tuesday.

Shipments of Bonny Light will fall to 214,500 barrels per day in January from 263,483 bpd in December, based on a schedule that contains seven 950,000-barrel cargoes, compared with December’s programme that contained nine cargoes.

* Spot trade has been fairly slow in the Nigerian market in the past couple of weeks, due in part to a fairly large number of unsold cargoes that have prevented differentials from gaining any upward traction.

* Traders estimate nearly a quarter of the December programme remains available for sale, roughly 15 cargoes, showing no change on the number estimated late last week.

* Chevron has sold a cargo of Nigerian Agbami for January delivery, but at least two traders said this was one of the very few spot deals that has gone through this week.

* Qua Iboe and Bonny Light are still indicated around $1.70 a barrel above dated Brent, showing no change on levels quoted late last week. (Reporting by Amanda Cooper; Editing by Jan Harvey) ))

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