UPDATE 1-Exxon to begin shipping Angola's Saxi crude in July

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LONDON, May 15 (Reuters) - Exxon Mobil (XOM.N: Quote, Profile, Research, Stock Buzz) is scheduled to load its first shipment of Angola's Saxi crude blend in July, traders said on Thursday, as production in the West African country continues to rise.

Angolan export programmes showed the first cargo of Saxi crude to be loaded on July 4-5, traders said. A total of three 950,000-barrel cargoes were scheduled to load in July.

Exxon was not immediately available to comment.

The company's website said production at the Saxi offshore oilfield would begin in June with peak production of around 100,000 barrels per day.

The grade is marketed as a medium sweet crude with an API gravity of 32.83 degrees and a sulphur content of 0.32 percent, according to its assay.

Exxon holds a 40 percent equity share in the oilfield.

Angola's production has risen gradually for the past few years as new offshore oilfields come online.

Angola last month overtook Nigeria as Africa's largest oil producer, pumping 1.873 million barrels per day, OPEC said earlier on Thursday.

(Reporting by Randy Fabi)