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Power Failure: Nigeria’s Crude Prices May Crash Further This Week - Politics - Nairaland

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Power Failure: Nigeria’s Crude Prices May Crash Further This Week by OrientDailyNews: 10:42am On Feb 12, 2019
Prices of Nigeria’s crude grades may crash further downwards this week due to persistent power failure at the export facility, sources close to the matter told SweetcrudeReports.

Power failure which began early last week is yet to be finally laid to rest, we learnt.
The country’s crude grades prices had fallen to their lowest in three weeks due to power failure at the export facility.

Reuters’ market report had said differentials fell on Friday for a second day due to a power failure at the Qua Iboe export facility which began early last week.

Prices of Qua Iboe BFO-QUA for March loading was offered at a premium of between $1.80 and $1.90 a barrel above dated Brent, down from around $1.95 the previous day and from around $2.15 at the start of this week.

The power outage caused a slowdown, as crude was loaded at around 25,000 barrels an hour, slower than normal rates around 30,000 barrels an hour.

As a result of excesses on ground, Bonny Light and Qua Iboe, which had been listed to be sold at higher than $2 a barrel above dated Brent throughout February, was said to have crashed- just one cargo of Qua Iboe was sold last week by Vitol.

The drop in export comes after last Tuesday’s report said Nigeria’s March oil cargoes were almost sold due to high demand by European refiners for the country’s oil. However, inside sources said the power challenge is yet to be totally fixed and could cause further slowdown this week.





https://orientenergyreview.com/power-updates/power-failure-nigerias-crude-prices/



Re: Power Failure: Nigeria’s Crude Prices May Crash Further This Week by Zangazanga: 11:00am On Feb 12, 2019
FTC for the 3rd time today. Am I truly jobless?
Re: Power Failure: Nigeria’s Crude Prices May Crash Further This Week by salbis(m): 1:02pm On Feb 12, 2019
I really hate bad news, especially when it concern this country. But some people keep telling us that our power generation has hit 7,000 megawatts. Bunch of lairs even to the detriment of their country.

40 Likes

Re: Power Failure: Nigeria’s Crude Prices May Crash Further This Week by OkunrinOloro: 1:02pm On Feb 12, 2019
A dullard will only give you four more years of his stupidity.

If you know you are not a born fool,then on the 16th of February 2019, use your PVC to correct the anomalies facing this country.

10 Likes 2 Shares

Re: Power Failure: Nigeria’s Crude Prices May Crash Further This Week by SouthSouth1914: 1:03pm On Feb 12, 2019
Crude oil prices shouldnt crash! Nigeria should crash instead! Failed state and a geographical mistake! Fvck you buhari and other leaders who have turned Nigeria to a poverty property!

13 Likes

Re: Power Failure: Nigeria’s Crude Prices May Crash Further This Week by tolexy007(m): 1:04pm On Feb 12, 2019
ok...

1 Like

Re: Power Failure: Nigeria’s Crude Prices May Crash Further This Week by TAGf(m): 1:04pm On Feb 12, 2019
what else do you expect from a lifeless government...

9 Likes

Re: Power Failure: Nigeria’s Crude Prices May Crash Further This Week by Donbosco22: 1:05pm On Feb 12, 2019
Share for Atiku
Like for Buhari

15 Likes 36 Shares

Re: Power Failure: Nigeria’s Crude Prices May Crash Further This Week by Nobody: 1:07pm On Feb 12, 2019
Buhari is working grin

1 Like

Re: Power Failure: Nigeria’s Crude Prices May Crash Further This Week by bedspread: 1:07pm On Feb 12, 2019
There is Deliverance this Weekend!!

9 Likes

Re: Power Failure: Nigeria’s Crude Prices May Crash Further This Week by Nobody: 1:11pm On Feb 12, 2019
These are the lies fashola and his people have been telling us from the beginning. Cant wait for saturday to come. I wonder where the power is.

12 Likes

Re: Power Failure: Nigeria’s Crude Prices May Crash Further This Week by Nobody: 1:12pm On Feb 12, 2019
bedspread:
There is Deliverance this Weekend!!
you can say that again. Let them keep showing us campaign pictures on nairaland while we keep sharpening our sword( the pvc) ahead if Saturday.

6 Likes 1 Share

Re: Power Failure: Nigeria’s Crude Prices May Crash Further This Week by Bustincole(m): 1:13pm On Feb 12, 2019
We are waitin for it

3 Likes

Re: Power Failure: Nigeria’s Crude Prices May Crash Further This Week by Nbote(m): 1:13pm On Feb 12, 2019
Hehehehe.. Wasn't it jus yesterday abi na today dey claim to have achieved and maintained 5000MW? But now persistent power failure has been threatening tgeir export facility abi... D problem with d truth is dat it can neva stay hidden for too long

1 Like

Re: Power Failure: Nigeria’s Crude Prices May Crash Further This Week by ClearFlair: 1:21pm On Feb 12, 2019
Atiku at work. Atiku sold PHCN to his friends and family. They have been sabotaging electricity to score cheap political points for Atiku but we wiser than them. We know exactly what is happening. PMB till 2023.
Re: Power Failure: Nigeria’s Crude Prices May Crash Further This Week by diablos: 1:21pm On Feb 12, 2019
Bad news won't leave the front page until the lifeless one leaves asorock. This is simple arithmetic.

3 Likes

Re: Power Failure: Nigeria’s Crude Prices May Crash Further This Week by ClearFlair: 1:24pm On Feb 12, 2019
diablos:
Bad news won't leave the front page until the lifeless one leaves asorock. This is simple arithmetic.

How is that fantasy arithmetic?

4+4=8. That is arithmetic. Go back to school mumu boy.
Re: Power Failure: Nigeria’s Crude Prices May Crash Further This Week by Nobody: 1:25pm On Feb 12, 2019
The lifeless one just has to go...


Like for Atiku grin share for bubu angry

5 Likes

Re: Power Failure: Nigeria’s Crude Prices May Crash Further This Week by SaiATKUOBI2019: 1:26pm On Feb 12, 2019
nnamdi kanu has directed drug addicts to harass law abiding igbos who want to vote.
Suddenly ipob can protest without being arrested
They are running rampage destroying politicians billboards and posters
Listen lifeless dullard FOOLhari..it will not work ...better try sniper to end your sorrow
Your defeat is a done deal.

1 Like

Re: Power Failure: Nigeria’s Crude Prices May Crash Further This Week by ClearFlair: 1:26pm On Feb 12, 2019
Iamdazzle:

The lifeless one just has to go...


Like for Atiku grin share for bubu angry


Atiku back to sender is a certainty. PMB until you have sense.
Re: Power Failure: Nigeria’s Crude Prices May Crash Further This Week by SaiATKUOBI2019: 1:27pm On Feb 12, 2019
the PDP puts the People first and at their very core there is Democracy and that is why they are having a Party at their rallies,Do you want to make a positive impact? Voting gives you that chance! Support the candidates and ballot measures that can help your community, state, and even the nation for the greater good. Make your voice heard in these elections.
The PDP is no doubt the only political party with a better candidate to chase the APC led government out of power this coming elections.
Re: Power Failure: Nigeria’s Crude Prices May Crash Further This Week by Nobody: 1:33pm On Feb 12, 2019
ClearFlair:



Atiku back to sender is a certainty. PMB until you have sense.

you dullard angry angry angry

Basking in the euphoria of nothingness to pay allegiance to the epitome of present day ravaging poverty in the nation.

Better begone before you get more than your bargain dimwit!

2 Likes

Re: Power Failure: Nigeria’s Crude Prices May Crash Further This Week by Okoroawusa: 1:33pm On Feb 12, 2019
salbis:
I really hate bad news, especially when it concern this country. But some people keep telling us that our power generation has hit 7,000 megawatts. Bunch of lairs even to the detriment of their country.
Are u sure u read this write up?



The report is talking about power outage at the Qua Iboe export facility...



Some ppl sef...
Re: Power Failure: Nigeria’s Crude Prices May Crash Further This Week by kmcutez(f): 1:34pm On Feb 12, 2019
ClearFlair:
Atiku at work. Atiku sold PHCN to his friends and family. They have been sabotaging electricity to score cheap political points for Atiku but we wiser than them. We know exactly what is happening. PMB till 2023.

PHCN was sold during Jonathan’s Govt, not Obasanjo’s/Atiku.

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