Economic Calendar

Thursday, October 30, 2008

Nigeria Reduces November, December Crude Exports After OPEC Cut

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By Alexander Kwiatkowski

Oct. 30 (Bloomberg) -- Nigeria will reduce crude oil shipments in November and December by 5 percent to comply with the output cut announced by OPEC last week, according to the national oil company.

``As a result of the production cut announced by OPEC, Nigerian cargoes in November and December 2008 lifting programs are hereby reduced by 5 percent,'' the Nigerian National Petroleum Corporation's crude oil marketing division said in an e-mailed statement today.

In addition, five November cargoes and 7.6 December shipments will be canceled, according to the statement.

To contact the reporter on this story: Alexander Kwiatkowski in London at akwiatkowsk2@bloomberg.net




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