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Nairaland Forum / Nairaland / General / Business / Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October (7278 Views)
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Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by Nobody: 7:29pm On Aug 20, 2017 |
Latest data disclosed by Thomson Reuters predict that Nigeria’s net crude oil export is expected to crash to 1.72 million barrels per day by October. Reuters said while some cargoes would likely be added, the current plan stands at a five-month low, and was expected to remain slightly below September’s loadings of 1.88 million bpd. August’s exports had been on track to exceed 2 million bpd, a 17-month high, but the closure of both of the export pipelines for Bonny Light crude pulled them lower. The final schedule also included roughly 1.88 million bpd. Shell’s lifted its latest force majeure declaration on Bonny Light early this week, meaning all the nation’s export grades are again free of restriction. Nigeria’s oil output has rebounded this year, aided by concerted government efforts to placate militants in the restive Niger Delta region where the bulk of the nation’s crude is produced, but it has struggled to maintain peak output levels. Theft from the nation’s oil pipelines in the Delta region leads to frequent shutdowns, limiting output. Additionally, unrest still threatens some oil infrastructure despite the government’s efforts. Three cargoes of Akpo condensate, with 97,000 bpd, are also set to load in October, compared with four cargoes of 133,000 bpd in September. Nigeria is Africa’s largest crude exporter only followed by Angola. The country’s crude oil exports fell to an all-time low after militant activities in the Niger Delta led to a wanton destruction of pipeline facilities and oil installations. SOURCE : https://brandspurng.com/nigerias-crude-oil-export-to-crash-to-1-72-million-barrels-in-october/
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Re: Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by froz(m): 11:51am On Aug 21, 2017 |
ok |
Re: Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by rodeo0070(m): 2:24pm On Aug 21, 2017 |
Na wa o |
Re: Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by froz(m): 7:58am On Aug 22, 2017 |
u can say that again, whereas alternatives is yet to be tapped into fully. |
Re: Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by hucienda: 8:32am On Aug 22, 2017 |
Militancy or OPEC? |
Re: Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by AmandaLuv(f): 8:33am On Aug 22, 2017 |
Mtshwww |
Re: Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by amdo007(m): 8:33am On Aug 22, 2017 |
Y |
Re: Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by KingsleyCEO: 8:34am On Aug 22, 2017 |
This regime needs prayers o, Everything is not even working in the favour of this government o... Bubu done enter one chance. After October the blame game continues. I just pity GEJ 9 Likes |
Re: Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by Nobody: 8:34am On Aug 22, 2017 |
Anither reason for more 3xcuses from the APC 4 Likes |
Re: Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by jashar(f): 8:35am On Aug 22, 2017 |
It's time to diversify the Economy. How many wake up calls do these people at the top need? America has more crude oil than Nigeria, yet they are not dependent on it..... Just because crude oil money is easy money.... people are reluctant to invest in other areas that require work. 6 Likes |
Re: Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by magoo10(m): 8:35am On Aug 22, 2017 |
Nigeria over dependence on oil shows the kind of daft leaders we had from inception and to think that people like buhari the dullard who collectively messed up the system are still in power today makes it dumber. 2 Likes |
Re: Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by Quality20(m): 8:35am On Aug 22, 2017 |
What can I say |
Re: Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by princefemo01(m): 8:36am On Aug 22, 2017 |
am not surprised....you know buhari is back again... 11 Likes |
Re: Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by Flexherbal(m): 8:36am On Aug 22, 2017 |
KingsleyCEO: |
Re: Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by Mrchippychappy(m): 8:38am On Aug 22, 2017 |
Lol, are we done killing camels and cows yet? Good morning Nigerians 2 Likes |
Re: Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by gratiaeo(m): 8:45am On Aug 22, 2017 |
Oil want follow welcome Bubu |
Re: Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by Blackfire(m): 8:48am On Aug 22, 2017 |
By the time the fire of desperation hit everyone and everything... We all will be in our politicians neck, asking them to give us our stolen Como wealth... Until religion, tribalism, partyism stop duping us... Am telling you all, if nothing is done in 10 years time, we may wake up to an already auctioned country. 1 Like |
Re: Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by younglleo: 8:54am On Aug 22, 2017 |
hehe. |
Re: Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by davodyguy: 8:55am On Aug 22, 2017 |
Nonsense. Everyone just want to post article, even people who have no idea of the real deal. How do they know? Are they preempting an attack? Or it is due to the expected OPEC production output cut? If it is the latter, Nigeria has been excluded in the arrangement, owing to issues in the country 1 Like |
Re: Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by Maziebuka01(m): 8:58am On Aug 22, 2017 |
Ok |
Re: Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by crestedaguiyi: 9:01am On Aug 22, 2017 |
send Buhari back or your calamity will return in double fold. just my 2 pips |
Re: Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by rightwingz: 9:06am On Aug 22, 2017 |
BlueBrothers: Southern senators are traitors. Our oyel moni. All state should manage their resources. |
Re: Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by Nbote(m): 9:08am On Aug 22, 2017 |
Where are d morons blaming Niger Delta Militants and their bombings for d drop in our oyel exports before, Oya com and find us something else to blame ooo.. 2 Likes |
Re: Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by Bimpe29: 9:12am On Aug 22, 2017 |
What a prayer cant achieve? No matter how long a night is, day must break. Nigeria of our dream still remain Work In Progress. |
Re: Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by Bobby808: 9:20am On Aug 22, 2017 |
KingsleyCEO:Who cares if Nigeria completely colapssed under this big fool call Buhari. He is such a very fooolish old thing. I expect this idiot to sing praises of Nigerians after returning from is unknown ailment, instead, he is drawing RED line for people not to cross. Buhari does not even have an inch fear of his creator having survived his sickness. I am an old man, a pensioner. My experience about leadership till date I have not come across a very senseless old hausa goat leader call Buhari. I was once a junor manager who lead eight head of departments. Leadership has some basic norms and not like Buhari, a fool with very useless Islamic blood running updaown who brain only works when It come to creating suffering, hatdred etc. I swear, if Buhari should contest in 2019, I will openly fast against this man. Broom body. 3 Likes 1 Share |
Re: Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by proeast(m): 9:33am On Aug 22, 2017 |
Even the most incurable optimist knows that Nigeria's future is very bleak unless something radically different is done now. The whole of America, Europe & other parts of the developed world are fast abandoning fossil fuel cars for the electric ones and if projections are anything to go by, the demand for oil is going to nosedive drastically in the coming years which will culminate in a further crash of the already cheap oil. Every oil dependent nation are diversifying to other sources except Nigeria. The re.tar.ds are even desperately searching for more oil inside terror zone of Borno state. I wonder what people would say in the coming years if they are already complaining of mass suffering already. Soon our population will cross 200 million people, all depending on a worthless oil that is fast going out of demand. All the rulers from 1960 till now deserves to be cursed. I dont even know how to qualify the dead wood in Aso rock. Nigeria will certainly break under its weight of mediocrity! What A Sham!!! 2 Likes 1 Share |
Re: Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by LastSurvivor11: 9:43am On Aug 22, 2017 |
Good news everywhere since the dullard general stepped down from the air plane |
Re: Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by Nobody: 9:51am On Aug 22, 2017 |
Tesla is coming..... |
Re: Nigeria’s Crude Oil Export To Crash To 1.72 Million Barrels In October by engrhorla(m): 9:52am On Aug 22, 2017 |
Real estate value hardly crash Adron Homes is here for you! Check my signature |
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