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Breaking!! Nigeria Can't Find Buyers For Her Oil by edogirl2: 8:59pm On Dec 08, 2014 |
London 8 Dec : The price of Brent crude fell to its lowest level in 5 years today as Brent Crude price fell to $66.40 per barrel. As international traders and oil analysts voiced their opinions on the future direction of oil price, most agree there is over supply in the market and that prices are likely to be depressed for a while yet. However, the following very important comment caught my eye in the market report: Physical markets also show an overhang of unsold Nigerian oil. [b]Less than a third of January’s cargos have been sold [/b]with just two weeks left before February barrels become available, according to KBC Energy Economics. The surplus of West African crude is one indicator of Atlantic basin oil demand, and unsold cargos have weighed on Brent crude prices in 2014. http://www.marketwatch.com/story/oil-continues-slide-trades-near-five-year-lows-2014-12-08 Even with the lowest price in years, buyers don't seem to be interested in Nigerian oil. Nigeria will prob have to sell at an even lower price to book a sale! Of course, the PDP govt will not want the ordinary people of this country to know the full scale of the economic storm that is gathering right now, and certainly, the discredited Finance Minister Mrs Okonjo Iweala keeps deceiving Nigerians that the govt has what it takes to weather the current storm. That's a bloody lie. The truth is, unless oil prices recover within the next few months, the country will be in very serious trouble. 7 Likes 1 Share |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by PROUDIGBO(m): 9:01pm On Dec 08, 2014 |
Good! 11 Likes |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by kokosheen(m): 9:12pm On Dec 08, 2014 |
OK and so the cookie crumbles finally. Seems I have no excuse for any holiday now. 3 Likes |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by Nobody: 9:12pm On Dec 08, 2014 |
13 Likes |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by braine(m): 9:13pm On Dec 08, 2014 |
Lol. But why can't we refine and use our thing locally, and dropping the price of PMS to something below N40 + reducing price of other petroleum products to enhance the local economic productivity? Or is there something off-key with this idea? 23 Likes 2 Shares |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by Nobody: 9:14pm On Dec 08, 2014 |
Edogirl2 Correct the title Change the its to her We dont use it for a nation but her Nigeria can't see buyers for her oil And not Nigeria can't see buyers for its oil. 12 Likes |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by atlwireles: 9:18pm On Dec 08, 2014 |
God truly loves Nigeria. I hope crude falls to $25 and stays there for 30 months. We might then be compelled in this country to do the needful. 26 Likes |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by otokx(m): 9:19pm On Dec 08, 2014 |
atlwireles: Agreed 11 Likes |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by Jazzlite: 9:20pm On Dec 08, 2014 |
Best news of the day 1 Like |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by madamoringo(f): 9:20pm On Dec 08, 2014 |
Our oyel ooooooooo...our oyel oooooooo! It is in the South .... (count 4 dots and fill in 1 character per dot!). Hahaha...now Naija will still not divide, to the disappointment of the South ....! Hehehehe....all the government decisions in the past 6 years have been a complete failure and it was led by elements from the SE and SS! But they have run the country into the ground, completely! Too bad! Well, it is time for everyone to go and grow cassava and farm fish in their state now! We don't want leeches crossing into other's lands, let them stay in their land develop it! 15 Likes |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by Nobody: 9:22pm On Dec 08, 2014 |
Can Northerners now secede now that oil wealth is gone 9 Likes |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by edogirl2: 9:22pm On Dec 08, 2014 |
Unless you have very deep pockets, its a good time to start cutting down on discretionary expenditure and start saving for the rainy day (assuming further devaluation does not eat up the savings!). Just to add to the bad news, Naira again fell to over $182 to a dollar today from its Friday closing of just over 179. Things are not looking good. I suspect PDP are just praying that the full storm will not arrive before the elections. Infact, whoever wins the election will find things really tough to deliver on their promises, unless there is a dramatic reversal of economic fortune. 4 Likes |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by persius555(m): 9:22pm On Dec 08, 2014 |
Finally, nigeria the sleeping giant has no choice but to wake up from its OILY SLUMBER. 9 Likes 1 Share |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by Nobody: 9:23pm On Dec 08, 2014 |
Good! I hope people can now think outside the box |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by Nobody: 9:24pm On Dec 08, 2014 |
Even if you kidnap a foreign oil worker now, the employer will not pay you a dime. They will tell you to keep him. 15 Likes |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by Mutuwa(m): 9:25pm On Dec 08, 2014 |
1 Like |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by 9jii(m): 9:29pm On Dec 08, 2014 |
atlwireles:I like this your Idea.necessity... 1 Like |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by Nobody: 9:30pm On Dec 08, 2014 |
madamoringo: Are you sure North will not secede now that oil wealth is gone. |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by 9jii(m): 9:30pm On Dec 08, 2014 |
WhiteTechnology:Nope. We want see all of it,i mean ALL |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by atlwireles: 9:32pm On Dec 08, 2014 |
9jii: Despite Riches, Venezuela Starts Food Rationing Government Rolls Out Fingerprint Scanners to Limit Purchases of Basic Goods; ‘How Is it Possible We’ve Gotten to This Extreme’ HOW MUCH IS PETROL AGAIN IN VENEZUELA http://www.wsj.com/articles/despite-riches-venezuela-starts-food-rationing-1414025667 1 Like |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by Nobody: 9:33pm On Dec 08, 2014 |
9jii: Unity of Nigeria is based on oil Its disappearance with end Nigeria 1 Like |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by edogirl2: 9:33pm On Dec 08, 2014 |
WhiteTechnology: I am sorry bros, this is no longer a hard and fast rule. Modern English writing perfectly permits the use of 'its' in this scenario. I read UK Guardian, New York Times, and the Economist routinely. The Economist (and most Nigerian newspapers) is the only one of the 3 that tends to adhere to your position. It's a bit archaic and tedious to always have to use 'her' when referring to a country. Just like we were told in secondary school that there was no plural of 'ship,' however, today, you find many respectable publications referring to 'ships.' Language evolves. 14 Likes 1 Share |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by Abagworo(m): 9:37pm On Dec 08, 2014 |
Stupid Leaders we have. Why cant we refine the oil and sell to ourselves? Jonathan has wasted years of oil selling above 100 Dollars on politics of 2015. Tufiakwa! 5 Likes |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by Nobody: 9:37pm On Dec 08, 2014 |
edogirl2: OK But there is no plural for sheep but there is for ship anyway thanks. 1 Like |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by edogirl2: 9:38pm On Dec 08, 2014 |
Thank you. Much respect. |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by 9jii(m): 9:39pm On Dec 08, 2014 |
WhiteTechnology:You don't understand The more you learn the less agrieve you ll be. GOD PROTECT NIGERIANS GOD BLESS NIGERIA |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by akoaki(m): 9:45pm On Dec 08, 2014 |
Nigeria government enjoys talking without action just like the citizens it governs. Nigerians need to step forward to demand that the government does the needful without further delay. As a people we have lived in denial for too long and our suffering has matured over time. Very few countries are as backward as nigeria right now just because our people have refused to demand answers and actions from the ruling class. 1 Like |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by Nobody: 9:45pm On Dec 08, 2014 |
9jii: OK explain to me in a lay man language. |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by Kassidy4luv(m): 9:51pm On Dec 08, 2014 |
Good news............. All those our Politicians allownaces will be. Reduced. States depending on FG monthly aloocation, I pity una oooooo 1 Like |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by dapotemi: 10:34pm On Dec 08, 2014 |
America will do evrything to make this oil very useless 1 Like |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by dapotemi: 10:35pm On Dec 08, 2014 |
Nig neeeds to diversify NOW! 1 Like |
Re: Breaking!! Nigeria Can't Find Buyers For Her Oil by coolzeal(m): 10:39pm On Dec 08, 2014 |
It has long overdue.... I don't know if crude oil was a blessing or a curse to us. 3 Likes |
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