This information was posted less than 24hrs ago on a nigerian engineers forum.

The constantly falling price of crude in the international market may have taken its toll on the sale of Nigerian crude in the international market as 40 cargoes of crude billed for November deliveries are yet to find buyers.
Market operators revealed that 40 out of the 63 cargoes billed for November deliveries could not get instant buyers at the world market yesterday due to low demand for the product as well as ample supply of crude in the market.

Reuters stated, “Less than two weeks before Nigeria’s December export cargoes start coming to market, nearly 40 cargoes of its November-loading cargoes were still available for purchase out of a total of 63 originally offered.”
The Nigerian crude which has found new buyers in Brazil and Asian countries like India in recent times fared poorly compared to crude from Angola which enjoyed a relatively robust demand from Asia for its distillate-rich crude.
Some traders however opine that buyers are becoming more speculative as they look to see what production activities will look like in other oil producing regions like the North Sea and Mediterranean regions.

Already, the price of crude oil ,WTI, has crashed from a September average of over $91 to $89.74 per barrel at the global oil market, thus sending intense fear of possible further fall in the price of the commodity owing to an expected increase in oil bunkering and piracy in the Gulf of Guinea as the country approaches a general election in the first quarter of next year.

Source: http://go.engineer-ng.net/m/discussion?id=6404812%3ATopic%3A97446

GUYS BEWARE! Most especially undergraduates choosing oil related courses and narrowing their hope into O&G coys. A word is enough for the ....

I saw this information and I decided to share it after seeing this thread www.nairaland.com/1938587/entry-level-salaries-companies-nigeria by olutola88. Why you might ask. I don't know about you but I found it quiet alarming when I saw english graduates asking 'what certifications do I need to run so I could get into the O&G coys?' or is about the guy who studied criminology and still had the shameless gut to pin on Oil companies to employ him? So my people be very wise

ok oh

It was bound to happen. But that doesn't mean everything will just cease though. Nice info nevertheless