Crude Oil Exports Archives

Nigeria Has Lost Its Most Valued Oil Buyers – DPR

November 27, 2018 0

Nigeria’s oil production, including condensates, increased to 2.07 million barrels per day (bpd) last month from 2.02 million bpd in March. It rose by 11 per cent from the level it was in April 2017 acordingto Platts report, citing estimates from the Ministry of Petroleum Resources.

Nigeria has lost its most valued crude oil buyers, even as its erstwhile gas customers are now competing with it, the Department of Petroleum Resources said on Monday. The Director, DPR, Mr Mordecai Ladan, said the oil and gas industry seemed to be under a new threat, which he described as the renewed dislike and global war against fossil fuels …

Oil Prices Collapse Due To Surplus Supply

November 23, 2018 0

Oil prices slumped Friday to lows not seen since last year as concerns over high crude supplies triggered massive selling, dealers said. The WTI futures contract, the New York commodities markets’ benchmark, fell more nearly seven per cent on the day, while its European counterpart, Brent Crude, dropped close to five per cent. High global oil production compared to demand …

Nigeria’s Crude Oil Exports to Surpass One-year High in August

June 22, 2017 0

Nigeria’s crude oil exports are set to surpass two million barrels per day (bpd) in August, the highest in 17 months, as the country’s oil and gas industry nears a full recovery from attacks by the Niger Delta militants that crippled production in 2016. It is expected that if the ramp-up in Nigeria’s production is sustained, it will put further …