29 C
Lagos, South Africa and New York
Sunday, July 5, 2020

Oil inches up in quiet holiday trade, focus on crude glut

Williams Oil prices rose slightly on Monday, barely paring last week's steep losses with the market remaining cautious as increases in U.S. drilling activity have undercut an OPEC-led push to tighten supply. Trading was subdued due to public holidays in China, the United States and Britain....

NNPC says no more product import by 2019

The Nigeria National Petroleum Corporation (NNPC) on Wednesday said it planned to rehabilitate, revamp and upgrade all the refineries so that there would be no more product import by 2019. Dr Bello Rabiu, NNPC Chief Operating Officer, (Upstream), said this during a panel discussion session...

West African oil exports to Asia to edge higher in May

* China's bookings edge higher, but below March record By Libby George LONDON, May 4  - Asia's West African crude oil loadings in May are expected to edge higher from the previous month, but remain below the March level, according to a Reuters survey of shipping...

W. Africa Crude-Angolan exports to slip, spot trading slow

LONDON, Feb 19 (Reuters) - Angola will export less oil in April, loading plans showed, but trading was slow because allocations began and Nigeria’s export plans continued to emerge. SPONSORED STORIES * Angola’s April loading plan emerged on Monday, showing a drop in barrel-per-day exports and...

W. Africa Crude-Angolan August programme emerges, fresh tenders issued

LONDON, June 16 (Reuters) - Nigerian crude remained in overhang with June and July cargoes still lingering though a few cleared in a recent tender by India's IOC, while Angola issued its August programme. * Asian demand for Angolan is expected to rise after Saudi...

W. Africa Crude-More Angolan trades, Bonga maintenance starts

LONDON, March 6  - Angolan crude cargoes were steadily finding buyers while delays in the loading of Nigerian crude Qua Iboe were weighing on differentials, traders said on Monday. Shell said it halted production at Nigeria's Bonga oil field on March 4 for maintenance that...

Texas refineries begin restart after hit from storm Harvey

HOUSTON (Reuters) - U.S. Gulf Coast refineries and fuel distribution terminals started to reopen on Saturday, a week after Tropical Storm Harvey knocked out nearly 25 percent of the nation’s refining capacity and sent gasoline prices spiking. While much of the region’s refining infrastructure still...

Oil stays at $53 as rise in U.S. inventory slows upswing

Oil prices steadied on Thursday after a surprise increase in U.S. inventories helped stall an upward trend that has pushed global crude benchmarks to their highest levels since July last year. U.S. light, sweet crude was down 16 cents at $53.90 by 10:21 a.m. ET...

Africa’s growth seen benefiting from rebound in global commodity prices: report

NEW DELHI  - Africa will see a lift-off in economic growth this year and next on the back of a rebound in global commodity prices, an annual report predicted on Monday. The African Economic Outlook, co-authored by the African Development Bank, the OECD and the...

W. Africa Crude-Cargoes trade swiftly, but diffs to Brent falter

LONDON, Aug 9  - Cargo offer differentials softened slightly this week for Nigerian crude, though barrels continued to trade relatively quickly. Strong demand from refineries worldwide was keeping all West African grades selling quickly relative to recent months. NIGERIA * Several cargoes had traded in recent...
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