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Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic - Politics (4) - Nairaland

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Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by X0012(m): 3:19pm On Apr 20, 2020
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.
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Geoffreyken2000(m): 3:19pm On Apr 20, 2020
Oh my God! javascript:void(0);
Now we really need a Joseph
to interpret this our dream news.

https://www.google.com/amp/s/www.channelstv.com/2020/04/20/oil-price-collapses-to-11-per-barrel-amid-covid-19-pandemic/amp/[/quote]
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by SocialJustice: 3:19pm On Apr 20, 2020
Kobicove:


If you stop supplies you loose your market share
Which market share? Nobody is buying.
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by nairaman66(m): 3:19pm On Apr 20, 2020
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.

Very good analysis! But we have a devil’s government! They won’t listen..
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by palsenator(m): 3:20pm On Apr 20, 2020
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Martinola(m): 3:20pm On Apr 20, 2020
But our useless govt still sell it for us at a high cost.
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by AmTruth: 3:21pm On Apr 20, 2020
Good suggestion,I must say
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.
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by SocialJustice: 3:21pm On Apr 20, 2020
haywire07:


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

Because their daily oil production is still lower than consumption. They import to meet consumption.
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by DAVE5(m): 3:22pm On Apr 20, 2020
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.

Bros the current government would not allow what you suggest to happen, if Nigeria gets better there won't be a need for us to collect loans in future and therefore not enough avenue to steal free money nah


Nigeria does not lack ideas on how to become a world giant, but it suffers because there's too much thieves that steal from the source

Imagine your mum had 30 kids and she's cooking a pot of stew, meanwhile 25 out of the 30 kids decide steal from the pot and even steal the ingredients for the rice without waiting for it to be cooked, abeg wetin go remain for the 5 children

5 Likes 1 Share

Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Osidazz19: 3:23pm On Apr 20, 2020
fulaniHERDSman:
cool cool
Sweet & Bitter News.

Nigeria on the Cross ... It is almost finished!!

Zombies be like "if only Jonathan saved...."
When E remain months make their dulllard clock same time Jonathan spent in that good for nothing Rock.

Delusional ranting of an ipob retarded brainwashed Biafuro monkey.
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by AmTruth: 3:23pm On Apr 20, 2020
Childish Comment as usual and expected

ChristianNorth:
Buhari and his bad lucks

It is well
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Angelfrost(m): 3:24pm On Apr 20, 2020
gypsey:
Good! oil have ruined so many countries, caused so many wars and killed so many innocent men, women and children.

Well, the liquid gold has finally outlived its global usefulness!!! Time to finally put it out of use!!!

While wise oil producing nations looked into the future, saw this inevitable depreciation in the value of crude oil, and started making economic inroads into other cash cows like wildlife, tourism, etc, while saving massively for the future, a certain third world nation's leaders spent decades cashing out and plundering oil revenues...

Now, the chicken has come home to roost... The giant is about to dance the despicable and unenviable dance of shame!!! Tueh!!!

6 Likes 2 Shares

Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by fulaniHERDSman(m): 3:24pm On Apr 20, 2020
Osidazz19:


Delusional ranting of my ipob retarded brainwashed Biafuro monkey Father.
Hahahaha.
Extreme paining!

1 Like

Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by aladeokin1000(m): 3:25pm On Apr 20, 2020
All Oil producing nations should buckle up
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by SocialJustice: 3:26pm On Apr 20, 2020
JakeSully:




Nigeria is finished
Nigeria's crude is not pegged to WTI but Brent. Brent is still $26, you didn't read, you just rushed to upload picture.

2 Likes

Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by ChristianNorth: 3:27pm On Apr 20, 2020
AmTruth:
Childish Comment as usual and expected

BMC zone b, well done

2 Likes 1 Share

Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by haywire07(m): 3:28pm On Apr 20, 2020
Kobicove:


If you stop supplies you loose your market share
I get you but I didn't say stop supplies completely ... I said said they should not supply in full capacity

Even if the shares drop, with faith , this pandemic will end and prices will appreciate ones again.
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Nobody: 3:28pm On Apr 20, 2020
Fuel pump price right now should be N40/litre.

They can talk under Jonathan, they can't talk now.

5 Likes

Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Izigha(m): 3:29pm On Apr 20, 2020
blingmoney01:
Am not moved at all, countries without oyel are doing better than us

Are you sure? Have you been to Niger Republic, or Malawi.
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Nobody: 3:30pm On Apr 20, 2020
Angelfrost:


Well, the liquid gold has finally outlived its global usefulness!!! Time to finally put it out of use!!!

While wise oil producing nations looked into the future, saw this inevitable depreciation in the value of crude oil, and started making economic inroads into other cash cows like wildlife, tourism, etc, while saving massively for the future, a certain third world nation's leaders spent decades cashing out and plundering oil revenues...

Now, the chicken has come home to roost... The giant is about to dance the despicable and unenviable dance of shame!!! Tueh!!!
Absolutely! correct!

2 Likes

Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Hanonimos(f): 3:30pm On Apr 20, 2020
Local girl is tired
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Nobody: 3:30pm On Apr 20, 2020
Boooohari don't mind them joor. Keep looking for oil in the Sahel jari.
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by DAVE5(m): 3:31pm On Apr 20, 2020
Angelfrost:


Well, the liquid gold has finally outlived its global usefulness!!! Time to finally put it out of use!!!

While wise oil producing nations looked into the future, saw this inevitable depreciation in the value of crude oil, and started making economic inroads into other cash cows like wildlife, tourism, etc, while saving massively for the future, a certain third world nation's leaders spent decades cashing out and plundering oil revenues...

Now, the chicken has come home to roost... The giant is about to dance the despicable and unenviable dance of shame!!! Tueh!!!

The vvips we have in the certain third world bleeped up country would still find a way to sell the oil even at 1kobo per barrel to ensure he sees something to steal and plunder

We have kleptomaniacs ruling us

2 Likes

Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Superjazz: 3:32pm On Apr 20, 2020
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.
In nigerriya intelligent people are not needed thank you grin
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by niyogeol(m): 3:32pm On Apr 20, 2020
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?
When you make assumptions like this without technical knowledge is frightening. Oil will still power the world for more decades. More so, gas is the future. The electricity to charge the cars will be mainly derived from gas fired power plants. Oil is not only used in transportation; it is used in production of other essential materials that drives the world.

America, Australia, UK, Norway etc are investing heavily in exploration of oil and gas. Although Covid-19 has led many oil majors to stall projects for now, but things will definitely pick again.

Make no mistake that I am supporting the inability of the Nigeria Government to diversify the Nigeria Economy away from oil. It is really despicable. Our leaders only tend to talk about diversification when oil prices are low and go to business as usual when things ramp up again.

3 Likes

Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by deenee: 3:34pm On Apr 20, 2020
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.

Govt should just hands out completely otherwise its just going to be another vicious cycle all over again.
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Superjazz: 3:34pm On Apr 20, 2020
Osidazz19:


Delusional ranting of an ipob retarded brainwashed Biafuro monkey.
Zombie spotted.....

2 Likes 3 Shares

Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Switruth: 3:34pm On Apr 20, 2020
To the ordinary Nigerian there is no difference between now and then. Truth be told.

2 Likes

Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Angelfrost(m): 3:37pm On Apr 20, 2020
DAVE5:


The vvips we have in the certain third world bleeped up country would still find a way to sell the oil even at 1kobo per barrel to ensure he sees something to steal and plunder

We have kleptomaniacs ruling us

Well, those kleptomaniacs can rejoice now... They have finally cleaned out the nation.

They have just doomed the future of generations yet unborn!!! Pity!!!

1 Like

Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by haywire07(m): 3:39pm On Apr 20, 2020
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.

Diversification is not a question of today. It has been there for up to 30 years ago when Oil took over.

Right now, I mean during this corona crisis, we cannot diversify. We should only be looking forward to sustaining ourselves first.
Exportation has been halted since the borders are closed.

But what about after the pandemic period?

1.We have former Niger Delta militants who were sent to learn production in China.
There are so many university scholars who were granted scholarships to study abroad.
E.t.c
Bring them home. Set up a conducive teaching and production environment.

2.Invest more in agriculture. Continue the ban of rice , chicken and other foods.

3. Encourage SME

4. We don't have to keep exporting our minerals to China. China would mine our metal family here, export to China, build cars and other technologies and sell back to us 200%

E.T. C..

All these might not make up the gains from oil, but it is necessary incase situations like this arise.

4 Likes

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