Superjazz:

Zombie spotted.....

Retarded brainwashed ipob Biafuro monkey on the prowl.
Better go and drink some more of Namdiot coward Cownu's urine.

ednut1:
crude oil have different grades. Some refineries are built to refine certain oil. Nigerian oil is bonny light which is sweet crude. It is also cheaper to import due to transport costs. Cheaper to ship nigeria oil to usa than north dakota oil to new York. Its common sense and economics

Those limitations have been taken care of. Read up fracking and Darkota Access Pipeline (DAPL). This was done particularly to reduce cost of refining the Shale oil from that area.

ednut1:
sell ur phone idiot

Why call him an idiot after if these person pick gun come Rob you now u go dey litter nairaland with complain.if u are not helping out just SHUTUP!!!!

haywire07:


America is the highest producer of Oil but why do they keep importing from Iran and Nigeria?

You are given wrong information to the Public by saying America still buys oil from Iran .No,but for Nigeria gradually divesting in Nigeria Crude since discovery of Shale oil in Texas and other Cities.Don't forget that even Chevron Oil Company is gradually reducing her activities so that they moved back to USA.

Izigha:


Are you sure? Have you been to Niger Republic, or Malawi.

Have you been to Estonia, do you know Dubai makes more money from transit passengers than Nigeria does from oil? India sells more software than we do from oil. California state has an economy bigger than that of Africa and produces more oil than Nigeria. That one state has silicon Valley the tech capital of the world in San Francisco, it also has movie capital of the world in Hollywood.

Nigeria that is a bastard useless country cursed with an evil population and wicked leaders. We will all receive sense by force from what is coming.

Should this lockdown extend to May ending, salaries of virtually everyone will stop. Companies will lay off staff. Things will get really bad but while other nations recover fast, Nigeria will be waiting for price of oil to go up.

Oil prices have dropped yet our government keeps selling petrol at exorbitant price.

Why??

Because we are gullible people. We can't face this government squarely.

now let me tell you over the years Europe have only used Africa for 1.its resources and 2. for its market A major reason why a country like Nigeria cannot produce electricity which would lead to industries and in turn jobs is because once that happens we would be come self independent our currency would become stronger and compete with Europe as we would be major exporters. as such the west has always been in control of the Nigerian government and would always make sure people who occupy that position are incompetent and under their control. thats why we always get bad leaders who draw the country back.

Now here is the juicy part how come since all these years we have never fixed our refineries how come one man is doing what a country can do 10x over instead our government has just been wasting our money on turn around maintenance without any result the answer is simple. apparently we have always remained colonised under the west who have always made sure nothing works and our continual dependence on them also the only reason they allowed Dangote to launch his refinery is because they dont have any further use for oil as most companies are going electric. as such they are more lenient on their control of such resource since its lost its value as we can see from current global trends.

Bluntemperor:


You are given wrong information to the Public by saying America still buys oil from Iran .No,but for Nigeria gradually divesting in Nigeria Crude since discovery of Shale oil in Texas and other Cities.Don't forget that even Chevron Oil Company is gradually reducing her activities so that they moved back to USA.

Chevron is still here, what I heard is the Chevron plants in Nigeria were built with BOT contract and that contract will soon expire but Nigeria is not interested in taking over because they will mess up and destroy the place.

haywire07:
It's hightime Nigeria stopped international sales of oil in full capacity.
Let us channel ample amount of the oil to a reservoir and save up for a better day.
Cut deals with some African countries and use their reservoirs if ours is filled

When we save enough, the Government should declare our refineries ''out of service".

After this Covid -19 pandemic, we begin to sell from our reservoirs for the main time, while the refineries will be under renovation.

And also very importantly is the need to diversify.

I had to quote you, because I was expecting to read further..


This is it.... the oil drop on price and value is expected and this is so because all companies and factories have been temporarily on hold and will likely resume fully after the pandemic....

Believe me, there will be high price in oil as there will be very high demand and this high demand will cut across till 2023...

But I fear for USA as they may likely hold on to their oil so as to boost the black market and devaluing the price earlier than expected....You know how conning and wicked the US can be....

haywire07:


America is the highest producer of Oil but why do they keep importing from Iran and Nigeria?

They are likewise the largest consumer... And they want to be energy independent which is not going to happen at least for now

Osidazz19:


Retarded brainwashed ipob Biafuro monkey on the prowl.
Better go and drink some more of Namdiot coward Cownu's urine.

Senseless,hungry and poor illitertrate creature spotted.......(don't worry physciatric doctors will soon DM you)

nedekid:

Wise words, the question is diversify to what? Is it tourism? Insecurity has killed that sector, besides Nigeria police, customs etc also contribute. Imagine a foreigner driving his family through cotonue boarder all the way to yankari game reserve. Police will extort, customs will seize his car, kidnappers will fight themselves over who saw them first.
Is it manufacturing at competitive prices when you run diesel and have all manner og government agencies taxing you?
Oh, commercial agric nko, my paddy left his high paying job to open multi billion naira farm, Nna if you see the guy now ehh.
Anyway we need to diversify.

We simply have to go back to Genesis! Mechanised agriculture, fish far6and large scale cattle rearing. We must have industry ready to process the inputs from these sectors into semi or full processed goods for local consumption and export. The light issue must urgently be solved.. All state should be given absolute rights to generate, transmit and distribute power. All ports must be linked by rail network

dawnomike:
I hope oil will not become $1 dollar let barrel before this pandemic ends

And as ay today some people still believe this pandemic is fake that govt is just using Covid-19 to amass wealth. Govt is losing just as every other sector and individual is losing. Why would they fake Covid-19?

haywire07:
It's hightime Nigeria stopped international sales of oil in full capacity.
Let us channel ample amount of the oil to a reservoir and save up for a better day.
Cut deals with some African countries and use their reservoirs if ours is filled

When we save enough, the Government should declare our refineries ''out of service".

After this Covid -19 pandemic, we begin to sell from our reservoirs for the main time, while the refineries will be under renovation.

And also very importantly is the need to diversify.

buhari us minister of oil... soooooo forget

chaloskyx:
now let me tell you over the years Europe have only used Africa for 1.its resources and 2. for its market A major reason why a country like Nigeria cannot produce electricity which would lead to industries and in turn jobs is because once that happens we would be come self independent our currency would become stronger and compete with Europe as we would be major exporters. as such the west has always been in control of the Nigerian government and would always make sure people who occupy that position are incompetent and under their control. thats why we always get bad leaders who draw the country back.

Now here is the juicy part how come since all these years we have never fixed our refineries how come one man is doing what a country can do 10x over instead our government has just been wasting our money on turn around maintenance without any result the answer is simple. apparently we have always remained colonised under the west who have always made sure nothing works and our continual dependence on them also the only reason they allowed Dangote to launch his refinery is because they dont have any further use for oil as most companies are going electric. as such they are more lenient on their control of such resource since its lost its value as we can see from current global trends.

Lies.... Illiterates in khaki, tribalists propangandarist and thiefs had always ruled Nigeria.
That the cause of our problem

Xisnin:

Very soon can mean a century.

Solar and winds are pipe dreams used to cajole people that are not familiar with the industry.
The only real alternative to oil is nuclear which the "green" environmentalist hate.
People will eventually see through the parasitic subsidy being used to prop up the failing industry
and call for accountability.

Oil price will definitely go up.
The majority of the world's power still depends on oil.

I believe there is a technology shift going on.
Almost all European counties have set a date to ban petrol and diesel fired cars. Norway has a set date of 2025..

For vehicles, battery powered cars seems to be gaining rapid momentum as can be seen by Mercedes, ford, hyundai, VW etc all getting on board. I live in a city of 16,000 people and several charging stations have been installed.

For power stations in Europe, before 2020, they will all likely be on green energy.
In North America, natural gas seems to be the alternative now pending when green energies eventually picks up. Very few power companies (maybe 1 or 2) in North America are still romancing the idea of nuclear, but this has not really being going down well with the public. Infact, several European countries are phasing out nuclear power. Lots of nuclear power plant decommissioning jobs in Europe.

I work for a power company outside the country and all our coal plants are getting shut by latest 2030. The replacement are the currently operating hydro, wind and geothermal. Natural gas plant and more wind farms are being built as I type this comment.

Airline and plastic manufacturers might be the only people that would be relying on petrol or diesel, and who knows what fuel cells are being researched for airplanes too.

Corporate2020:


Save oil till later? Europe, America, Australia and Asia are moving to electric cars, that means very soon car manufacturers will stop producing petrol and diesel cars. Countries are also moving to alternate power supply including solar and wind. So, when is the later day that oil price will go up? When Jesus comes?

Can these sustain a nation's economy...This electrical power talks are big power men in place playing the whole hype. This doesn't mean I undermine the potentials of these innovation.

The key thing here is a source of energy that is safe,clean and affordable....Until that is discovered,..Oil will still remain dominant in the world we are especially for its other sub-products....

dawnomike:
I hope oil will not become $1 dollar let barrel before this pandemic ends

That may be better, so that every household in Nigeria will buy crude oil for generators.ego sweet die.
E for still good make dem say dem no go at all sef, so that Nigerian politicians go dey look Bush

We be been telling them to diversify since God knows when they wouldn't listen. I bet you oil price will not go beyond $30 per barrel even after d post virus. The government has almost spent all the money in external reserve finished by paying salaries and debt services. Foreign reserve of over 300billion dollars Jonathan left is now less than 150b dollars.

Nigerians and Africans re in for a rough and ugly ride 2020.

I pity Buhari

If he was clueless, he is now castrated

sonnie10:
Very soon, oil companies will be doing promo.
Buy one barrel get two barrels free.

They will apply to work in my company.

I will employ some.

haywire07:
It's hightime Nigeria stopped international sales of oil in full capacity.
Let us channel ample amount of the oil to a reservoir and save up for a better day.
Cut deals with some African countries and use their reservoirs if ours is filled

When we save enough, the Government should declare our refineries ''out of service".
Luckily, Dangote refinery is near completion.

After this Covid -19 pandemic, we begin to sell from our reservoirs for the main time, while the refineries will be under renovation.

And also very importantly is the need to diversify.

Good ideas.

haywire07:
It's hightime Nigeria stopped international sales of oil in full capacity.
Let us channel ample amount of the oil to a reservoir and save up for a better day.
Cut deals with some African countries and use their reservoirs if ours is filled

When we save enough, the Government should declare our refineries ''out of service".
Luckily, Dangote refinery is near completion.

After this Covid -19 pandemic, we begin to sell from our reservoirs for the main time, while the refineries will be under renovation.

And also very importantly is the need to diversify.

Well said!

But again, what comes after the proceeds from the government to the citizenry?
That's a question for you and I.. Cos I know it only ends at the door mat of a few thereafter..

This is the more reason it should even be sold for a dollar per barrel.

These gang of thieves don't give a bleep.

So no funny bleeps given even if it crashes!

Superjazz:

Senseless,hungry and poor illitertrate creature spotted.......(don't worry physciatric doctors will soon DM you)

My only advice to you is to seek mental psychiatric help before you appear naked at the Market square.

haywire07:
It's hightime Nigeria stopped international sales of oil in full capacity.
Let us channel ample amount of the oil to a reservoir and save up for a better day.
Cut deals with some African countries and use their reservoirs if ours is filled

When we save enough, the Government should declare our refineries ''out of service".
Luckily, Dangote refinery is near completion.

After this Covid -19 pandemic, we begin to sell from our reservoirs for the main time, while the refineries will be under renovation.

And also very importantly is the need to diversify.

You want Kill buhari the minister of oil

We all know how volatile crude oil market is most especially at the time.

haywire07:
It's hightime Nigeria stopped international sales of oil in full capacity.
Let us channel ample amount of the oil to a reservoir and save up for a better day.
Cut deals with some African countries and use their reservoirs if ours is filled

When we save enough, the Government should declare our refineries ''out of service".
Luckily, Dangote refinery is near completion.

After this Covid -19 pandemic, we begin to sell from our reservoirs for the main time, while the refineries will be under renovation.

And also very importantly is the need to diversify.

Sir Nigeria is not refining oil and if we say we should get the refined oil now. It quite expensive to bring to you even though the price is low. So this advice would have better if we were refining our oil.

The low in demand is just because of the lockdown everywhere, once the ban on movement has been lifted I believe the price will go up but might not go as high as it was before.

Nigerians go hear am!

Chai. How does our Petroleum Minister President of Nigeria pass through this?

This news is highly misleading. Brent oil is the global benchmark for oil.prices. It is hovering around $26. This price is for US regional crude oil.