A nice chess game from China.Chinese govt are stock piling crude amid the crisis in some oil rich region.When the fight is over,their economy will blossom

Crude oil will become as useless as condemned oil by end of 2020

Rahyberg:
Bad market for all Oil Producing countries, especially, The GIANT of AFRICA

US to....they are the highest oil producers

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.

we have diversify already

haywire07:


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

for starters most of their oil contain sulfur, it’s not sweet crude.

Secondly the demand is more than their local production capacity.

Few years back their production capacity almost equalled their demand reason they stopped buying from Nigeria.

Jesus!

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?

Oga you can't do without oil, if they don't use it as energy to power the Car, there are lubricating part that needs lubricant an greese. Our abundant Gas is also needed to Generate electricity. So leave all those electrical car story

Corporate2020:
Haaaa!!!

All these our oyel people will soon start hawking crude oil in Lagos holdups

your state will not be able to pay salary

For forex traders time to sell USDCAD for long term trade. Expect to make serious money when the price of oil starts moving up.

Now that Abba Kyari is gone wahalah dey because the man tried small. Buhari is a cursed to Nigeria.

Lostz:
we have already diversify so no cause for alarm.

we will sell rice and cattle to the west to raise funds

Cattle? The west has more cattle. Fat ones unlike those bony African types

dayleke:
Wahala dey o.
Brent crude or crude Brent Abi wetin dem dey call our own nko?
How much be that one?

Still $27

Very good news. Buhari should reduce the price of petrol to N15 per liter sharp sharp

Brace up ppl, but me I need help now

Good! oil have ruined so many countries, caused so many wars and killed so many innocent men, women and children.

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

Kriss216:
That's good.

Nigeria is finished

excanny:


Still $27

Thank you.

salford1:

Cattle? The west has more cattle. Fat ones unlike those bony African types

buhari has already set-up a committee head by osibade.
the committee will make our cattle fatter than that of the west

Buhari and his bad lucks

It is well

I would like to rent Dangote's crude storage facility for his Lagos refinery to stock cheap crude but he is a wiser businessman. Sense no go kill me.

Kennydoc:


Nigeria depends on oil sales for survival.

Then sadly, the nation is about to be buried... We should start thinking fast economic diversification and alternative revenue sources, or apply for recolonization!!!

5 years after claiming to have what it takes to return the nation to glory, yet you have merely sunken her further into economic abyss!!!

.

Price of Oil will bounce back in no time.

NaijadrivaCars:
Then FG should slash further the prices of petrol/AGO and kerosene.

This is the best time to implement full deregulation of the down stream sector.. God save Nigeria.

eruchboy:
Demand is at an all time low
That spells economic doom for this shithole
Oil price is dropping but price of fuel is still up
Fed govt & nnpc have turned nigerians to money making machines

What do you expect when Buhari is the petroleum minister. By now he supposed to reduced the price of petrol to N15 per liter

haywire07:


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

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

Sharatan:






Wetin concern me?..

Oil wey be national cake for Nigerians na only dem go still sell am still loot the money again put for personal offshore accounts..


Make dem suffer their suffer. If possible make e be 10cent sef..

Let those eating the proceeds sort themselves out. End of discussion

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.

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.

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.

Great idea but what about the cost of storage and production. What are the parameters you are using for your projections? This is not a walkover

Let the government reduce the price here nau. Abi they want us to be buying for #125 still? Fuel is suppose to be sold for 50naira per litre fa.