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Tuesday, July 7, 2020

Nigeria’s cocoa mid-crop output seen weak as coronavirus disrupts farmers exports creating backlog of unshipped beans

Chijioke Ohuocha ABUJA, May 15 - Nigeria’s cocoa mid-crop output is expected to be weak as measures to curb the spread of the coronavirus hindered farmers and exporters, creating a backlog of unshipped beans, the president of the cocoa association said. Mufutau Abolarinwa told Reuters...

Ghana, Ivory Coast leads Nigeria in Cocoa output, agree on 2019/20 export volumes

At a time Nigerian Cocoa producers are battling for survival due to government’s near negligence of the sub sector, Ghana and Ivory Coast are set to jointly decide on the volume and timing of cocoa exports by August for the 2019/20 season. According to the...

W. Africa Crude-Saturno loadings delayed, trading limited

LONDON May 10  - A technical fault delayed loadings of Angola's Saturno crude oil. While there was little fresh trading, gains of more than 3 percent on the Brent crude benchmark used to price West African grades helped to boost values. NIGERIA * While...

Nigerian barrels tied up as crude trading slow, buyers hope for lower diffs

Trading was relatively slow as a pending tender from Indian Oil Corp. kept Nigerian barrels tied up, while key buyer Unipec continued to offer some cargoes of other grades of oil, including from Angola and Cameroon. Refiners said offer differentials were too high and...

Exxon restarting second-largest U.S. refinery

HOUSTON (Reuters) - ExxonMobil Corp was restarting its Baytown, Texas refinery, the nation’s second largest, on Saturday six days after it was shut because of heavy rain from Tropical Storm Harvey. The company said it began initial restart of the 560,500 barrel per day (bpd)...

W. Africa: Nigerian crude overhang gets smaller

LONDON, July 10 - Nigerian crude differentials were steady to slightly higher on Monday, supported by a smaller overhang of cargoes, while sellers of remaining Angolan cargoes targeted higher numbers. NIGERIA * Traders had said there was a sizeable overhang of Nigerian crude. Some of...

2.2m barrel oil production possible as IOCs lift Nigerian crude grades restriction

… Experts say militancy will be determining factor Within the last six months, three out of four of Nigeria’s major crude grades – Bonny Light, Qua Iboe and Brass River have emerged from force majeure –  a legal clause that absolves parties to a contract...

Gold pinned near one-year lows on dollar strength

Zandi Shabalala LONDON - Gold was stable near one-year lows on Wednesday on a stronger dollar, as the market waited for signals on the direction of U.S. monetary policy from a Federal Reserve meeting later in the day. Spot gold edged down 0.1 percent...

Shale Recovery to Keep Oil Prices Under Pressure in 2017

The recovery in US drilling activity will drive up shale oil production in the second half of 2017, offsetting a portion of recent oil price gains, Fitch Ratings says. We therefore expect average oil prices for the year to be below those in January...

W. Africa Crude-Nigerian July loading programmes surface

LONDON May 18  - The market was focussed on emerging July loading programmes and trade was limited to tenders, with Angola's Sonangol issuing a rare sell tender and IOC awarding its latest July tender. * Sonangol issued a tender to sell a cargo of CLOV...
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