27 C
Lagos, South Africa and New York
Tuesday, June 2, 2020

India continues to provide silver lining for Nigerian crude

LONDON, May 28 - India provided one of the few outlets for Nigerian oil as East Asian tenders were awarded to crude from elsewhere and a glut builds up. * Tenders for...

Exports from Nigeria’s key crude grades to rise in July

LONDON, May 27 (Reuters) - Total exports of Nigeria's four key crude oil grades are set to rise in July to 768,000 barrels per day (bpd) from 602,000 bpd planned for June, according to preliminary loading programmes seen by traders. The Bonga crude oil export...

Russia Beats Saudi Arabia. Becomes Largest Oil Exporter To China

Russia became the top crude oil supplier to China last month, overtaking Saudi Arabia with an average of 1.75 million bpd versus 1.26 million bpd for Saudi Arabia, Reuters has reported, citing customs data. In fact, last month Saudi Arabia fell to the third...

Nigeria’s crude output for July loading seen rising amidst OPEC cut

LONDON, May 26 - Nigeria's July programmes showed higher output on key grades on Tuesday after the country reduced its production in May and June to meet an OPEC-led deal to cut output as coronavirus lockdowns weighed on fuel demand. ...

Oil Rises With Signs of Improving Demand for Nigeria, Other Real Crude Barrels

(Bloomberg) -Oil rose above $34 a barrel in New York on signs that demand for physical crude continues to recover. Nigeria, whose millions of barrels of unsold crude were the epitome of the oil market’s glut in recent weeks, lifted the selling price for its...

UPDATED: Nigeria’s Shell operated Bonga oil export terminal shut for maintenance

Nigeria’s Bonga crude oil export terminal has begun routine maintenance, its operator Shell told Reuters on Tuesday, adding it aimed to have the work done in “record time”. The Shell Nigeria Exploration and Production Company (SNEPCo) said in an email that maintenance on the Bonga...

Total secures $14.4 billion funding for Mozambique LNG -sources

PARIS - French energy major Total has secured $14.4 billion funding for its Mozambique liquefied natural gas project in Mozambique, two sources said on Wednesday. A source with knowledge of the matter said Total has reached a financing agreement with a group that includes...

Oil supply cut will hurt Nigeria’s economy – Fitch ratings

Fitch, an international rating, agency has stated that reduction in Nigeria’s oil supply into the market will affect growth, and impact on the nation’s external finances. In its revised outlook, the rating agency stated that it expects the Nigeria’s economy to contract by 3% in...

W. Africa Crude-Differentials rise broadly but demand still uncertain

LONDON, May 20 - Prices for both Nigerian and Angolan crude oil continued their steady climb in recent days on hopes of recovery in global fuel consumption but lacklustre European refining margins and steady differentials elsewhere added some uncertainty. ...

Publish Bidding firms involved in Oil Licensing deal, CSOs tell FG

Civil society organisations want the federal government to ensure details of the beneficial owners of prospective bidders are included among key conditions for those interested in participating in the licensing round for the marginal oil and gas assets planned for later this year. Rising from...