First Pazflor Shipment Could Come in October

Source: Reuters 8/16/2011, Location: Africa

Angola is scheduled to export at least 1.54 million barrels per day (bpd) of crude in October, a provisional loading programme showed, less than in September even as a big new oilfield begins production. Exports from Angola, Africa's second-largest producer and a member of the Organization of the Petroleum Exporting Countries, were scheduled at 1.67 million bpd in September.

The October schedule provided by a trading source also includes one 950,000-barrel cargo of crude from Pazflor, a new Angolan oilfield. This would add 31,000 bpd to the total, bringing October exports to 1.57 million bpd. Pazflor is being developed by Total of France and was scheduled to come on stream in the last three months of the year. Total expects the 220,000-bpd deep water field to reach full capacity within six months. Fields such as Pazflor will help supplies from Angola recover. Shipments have slipped from peak levels of near 1.9 million bpd in mid-2009 because of natural decline in some oilfields and maintenance in others. There is no cargo owner or loading date in October given so far for the first Pazflor shipment.

Angola once rivalled Nigeria as Africa's top oil exporter, although a period of relative peace in the Niger Delta has allowed Nigeria to extend its lead for now.


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