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Nigeria's new Agbami oil exports delayed -source

Thu Sep 4, 2008 10:19am EDT

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LONDON, Sept 4 (Reuters) - Exports of crude oil from Nigeria's new deepwater Agbami project are expected to be delayed, a trade source said on Thursday.

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Agbami started pumping light, low-sulphur oil in late July and the first export cargo had been scheduled to load on Sept. 12-13, suggesting that loading operations should already have started.

"The first cargo has not been loaded yet. Loadings are delayed," the source said.

The source did not say how long the loading would be delayed.

The cause of the delay was not clear but it was not related to technical issues of oil production or loading, the source said.

Operator Chevron Corp CVX.N said in late July the Agbami oilfield was producing about 20,000 barrels of oil and natural gas liquids a day. Production was expected to increase to about 250,000 bpd by the end of 2009.

Other equity holders include state-run Nigerian National Petroleum Corp (NNPC) and Norwegian company StatoilHydro (STL.OL). (Reporting by Ikuko Kao, editing by Anthony Barker)



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