Wed Nov 25, 2009 6:34pm GMT
LONDON (Reuters) - Nigeria's crude oil exports are expected to hit a six-month high in January, according to preliminary loading programmes, as respite from attacks on oil facilities allows oil companies to ramp up production.
Nigeria's crude oil output is set to average 2.01 million barrels per day (bpd) in January, up from a revised 2.00 million bpd in December and the highest volume since July, trade sources said on Wednesday.
Nigeria has the capacity to produce more than 3 million bpd of crude oil but militant attacks on oil facilities have reduced production by more than 20 percent, or around 700,000 bpd.
For a FACTBOX on Nigeria's production outages click here
A gun amnesty, which expired on October 4, has brought an end to sabotage attacks, at least for now, boosting Nigeria's oil production potential.
January's export volumes will keep Nigeria's oil output well above its target set by the Organization of the Petroleum Exporting Countries. OPEC has given Nigeria an implied production quota of 1.67 million bpd.
Nigeria's oil minister, Rilwanu Lukman, said on Tuesday Nigeria could produce 500,000 bpd more oil by the end of next year if OPEC decided to increase production levels.
The 15 main Nigerian crude oil streams are set to load 70 full or part-cargoes in January, down from 71 in December.
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