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Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers - Politics - Nairaland

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Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by ijustdey: 12:05pm On Oct 11
Nigeria’s economy faces significant risks in the days ahead, as the country is currently having difficulties getting buyers for its crude oil in the international market.

Reuters yesterday confirmed that 25 cargoes in the October and November schedules had barely attracted buyers over the last week.

It also revealed that higher offers emerged for the county’s grades but given the abundance of unsold cargoes, no buyers stepped forward, leaving differentials broadly unchanged.

According to the report, the nation’s cargoes have been slow to sell over the past few weeks, but this did not deter sellers from raising their offer prices for both Qua Iboe and Bonny Light.

Both were offered around $1.70 per barrel above dated Brent price, compared with recent indications of $1.55, with no buyers.

The world’s biggest trading houses said they foresee oil prices not falling below $65 per barrel and possibly breaking above $100 next year as U.S. sanctions on Iran reduce crude exports from the Islamic republic.

India’s Chennai Petroleum Corp Limited has shut a 74,000 barrel per day (bpd) crude at its 210,000 bpd Manali refinery in southern part of the country from October 6 for about one month for planned maintenance.

Also, the Abu Dhabi National Oil Company (ADNOC) is building an oil storage facility under the mountains of Fujairah in the United Arab Emirates, industry sources disclosed.

The underground Mandous facility would have the capacity to store about 40 million barrels of oil and is to be completed by 2020, it was learnt.

The Guardian had on Tuesday reported that traders were shunning Nigerian crude but showing interest in specifications from Angola

The report identified that differentials for Nigerian crude remained unchanged as a lack of bids met an overhang of unsold cargoes, while demand for Angolan remained robust, evidenced by a flurry of fixtures that has pushed shipping rates to near two-year peak.

https://m.guardian.ng/news/anxiety-as-nigerias-fresh-25-oil-cargoes-await-buyers/

1 Like

Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by sarrki(m): 12:11pm On Oct 11
We should move away from the mentality of oil

9 Likes

Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by jowhyte(m): 1:02pm On Oct 11
Oil is supposed to be a blessing but reverse is the case for us

21 Likes

Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by popsyleo1: 1:11pm On Oct 11
H

1 Like

Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by kidman96(m): 1:13pm On Oct 11
lipsrsealed embarassed
Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by Dottore: 1:13pm On Oct 11
Ok
Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by ShameOnAPC: 1:13pm On Oct 11
See as BMC will boycott this page

5 Likes

Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by jennybright(f): 1:13pm On Oct 11
Njo ahia egbuo naija

1 Like

Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by Billygee2u: 1:13pm On Oct 11
have the masses benefited from it before?

6 Likes

Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by yeyerolling: 1:13pm On Oct 11
sarrki:
We should move away from the mentality of oil

tell ur lifeless oga who dey find oil for borno. Ur oct salary might be delayed sha

25 Likes 1 Share

Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by aooo(m): 1:13pm On Oct 11
Nations are being careful not to deal with a life**** President.

I am ready to buy sha

5 Likes

Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by buhariguy(m): 1:13pm On Oct 11
OK
Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by ndmaino: 1:13pm On Oct 11
ijustdey:







https://m.guardian.ng/news/anxiety-as-nigerias-fresh-25-oil-cargoes-await-buyers/

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Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by Jeezuzpick(m): 1:13pm On Oct 11
Our governments constantly refuse to diversify our economy. Rather they keep selling oil and inventing new ways of stealing the proceeds.

Gowon, OBJ, Shagari, Buhari, IBB, GEJ, PDP, APC una doh ooooo!

Way to go, guys!

wicked, selfish, greedy muhfuqrs.....

3 Likes

Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by pablobellins(m): 1:14pm On Oct 11
jowhyte:
Oil is supposed to be a blessing but reverse is the case for us
speak for yourself
Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by Abati60: 1:14pm On Oct 11
It will be a blessing if no one buys our crude and we can start developing other sectors. Oil has made Nigeria lazy in diversifying. Moreover all the revenue from crude oil was stolen and squandered.

7 Likes

Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by abumeinben(m): 1:14pm On Oct 11
This is really sad!

See see the depth to which this administration has reduced our reach crude: a road side commodity.

It also revealed that higher offers emerged for the county’s grades but given the abundance of unsold cargoes, no buyers stepped forward, leaving differentials broadly unchanged.

Is this related to kachiku's 1st.class certificate?

1 Like

Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by AmazingELixir: 1:14pm On Oct 11


Wasn't it on this platform that it was reported that the Polish government had declared intention to buy Nigerian crude...

Buhariiiiii what have you done this time oooh!...

1 Like

Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by 12345baba(m): 1:14pm On Oct 11
No salary next month
Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by fvck(m): 1:14pm On Oct 11
Bubu why?

1 Like

Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by anonymuz(m): 1:14pm On Oct 11
sarrki:
We should move away from the mentality of oil

it's late. The mentality has sunk deep down in our leaders.
Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by gurunlocker: 1:14pm On Oct 11
sarrki:
We should move away from the mentality of oil


I thought your lord Bubu said he will diversify the economy?

I believe diversifying to bubu means Searching for more oil location.

5 Likes

Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by Henrypraise: 1:14pm On Oct 11
I tot poland choosed our oil over Russia oil?? Abi was dat a propaganda also

1 Like

Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by Nawhobedat: 1:14pm On Oct 11
Waiting concerns us
Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by AdonaiAluminium: 1:15pm On Oct 11
Enough reason we should Start focussing on other means of generatng income for the nation apart from oil as it might fail us one day. Agriculture should be put focus now.

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Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by Bills2307(m): 1:16pm On Oct 11
ndmaino:
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3 Likes 2 Shares

Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by Dottore: 1:16pm On Oct 11
H
Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by dontbothermuch: 1:16pm On Oct 11
cry
Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by Frankbaro(m): 1:16pm On Oct 11
The lifeless one attracts bad luck in every sphere. This has not happened b4

5 Likes

Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by adioolayi(m): 1:16pm On Oct 11
Time to think deeply and go back to Agriculture.
Sentiments aside, PMB lead government is on the right track as far as AGRICULTURE is concerned.

1 Like

Re: Anxiety As Nigeria’s Fresh 25 Oil Cargoes Await Buyers by foreshore: 1:23pm On Oct 11
ijustdey:







https://m.guardian.ng/news/anxiety-as-nigerias-fresh-25-oil-cargoes-await-buyers/


This is what the clueless and lifeless party with their president has brought upon this country

1 Like

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