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Nigeria August oil exports up 12.4% month on month to 2.26 million b/d

Nigeria exported 70.14 million barrels of oil including condensate in August, or an average 2.26 million b/d, which was 12.4% higher month on month, data from state oil company Nigerian National Petroleum Corp showed Monday.

Europe remained the biggest destination, with the US accounting for 30,779 b/d as against zero in July, the data showed.

"Four regions, namely Europe, South America, Asia and Africa, remain the major destinations of Nigerian crude and condensate export," NNPC said.

Oil production by Africa's biggest producer in August rose 6.8% month on month to 2.20 million b/d.

For the second month running, ExxonMobil was the biggest producer, accounting for or 435,644 b/d, followed by Anglo/Dutch Shell with 255,049 b/d.

Gas production stood at 226.26 Bcf. The amount of gas flaring from the oil fields rose to 17.3% of total production, compared with 13.1% in July.

Nigeria's four refineries operated at an average of 16% of their combined nameplate capacity of 445,000 b/d in August, down from 22% in July.

Nigeria has raised its gasoline imports for the fourth quarter to bridge the shortfall in local supply.

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