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Nairaland Forum / Nairaland / General / Politics / Nigeria Joins OPEC To Cut Crude Oil Production (21322 Views)
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Re: Nigeria Joins OPEC To Cut Crude Oil Production by Shindara91: 4:12pm On Apr 10, 2020 |
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Re: Nigeria Joins OPEC To Cut Crude Oil Production by jadeliyi(m): 4:15pm On Apr 10, 2020 |
fjjc:try to own oil well(s) in the nearest future then you will understand. |
Re: Nigeria Joins OPEC To Cut Crude Oil Production by Commanderinpips: 4:20pm On Apr 10, 2020 |
Kylekent59: Bros recession don enter already. |
Re: Nigeria Joins OPEC To Cut Crude Oil Production by PHijo(m): 4:23pm On Apr 10, 2020 |
Yenefer: Probably Nigerian 'oil'( whatever that may be), not Niger Delta oil. |
Re: Nigeria Joins OPEC To Cut Crude Oil Production by Nobody: 4:41pm On Apr 10, 2020 |
. 1 Like |
Re: Nigeria Joins OPEC To Cut Crude Oil Production by EdiskyHarry: 4:49pm On Apr 10, 2020 |
When will my region, "Niger delta" have sense? The whole vegetation of Niger delta has been destroyed as a result of oil activities everyday. What has Niger delta benefited from this crude oil, is this oil money only meant for enriching the northern part of Nigeria on the pretext of fighting Boko Haram? |
Re: Nigeria Joins OPEC To Cut Crude Oil Production by wink2015(m): 4:55pm On Apr 10, 2020 |
Go and face Agriculture. |
Re: Nigeria Joins OPEC To Cut Crude Oil Production by israelmao(m): 5:19pm On Apr 10, 2020 |
If supply is cut down then demand is likely to increase giving rise to price. |
Re: Nigeria Joins OPEC To Cut Crude Oil Production by Gilgil: 5:19pm On Apr 10, 2020 |
Production doesn't mean anything if you cannot sell it all. Using this crisis, Saudi Arabia has increased their global market share and consolidated with Premium customers. The present and future growth in oil demand is in Asia and Logistics+ economics do not favour Nigerian oil in that direction. Most of Nigeria's former oil customers are now her competition.e.g US Other African countries who were not in the oil and gas game before have joined as competitors e.g. Ghana, Senegal, Congo, Mozambique, Kenya, Uganda, Equatorial Guinea, South Africa, South Sudan, Egypt etc. thereby shredding Nigerian market share. Poor investment in exploration arising from policy laziness e.g. PIB footdragging has left Nigeria with falling proven reserves and you cannot ingest in exploration during an oil price crash. Ease of doing business in Nigeria and real oil profitability versus other countries is very poor and oil investors want to put their money in more profitable ventures? E.g. Exxon Mobil would be thinking for every barrel, what's the profit in Nigeria versus Guyana versus other countries. So in essence, we may produce 1.5 MMBOPD and sell 1MMBOPD, that revenue won't be met; barring discounts oh. |
Re: Nigeria Joins OPEC To Cut Crude Oil Production by kumulus(m): 5:30pm On Apr 10, 2020 |
Re: Nigeria Joins OPEC To Cut Crude Oil Production by Nairalandmonika: 6:10pm On Apr 10, 2020 |
being:Is not the minister, it's what opec counties decide to do. It's simple economic, reduce in supply means increase in demand, increase in demand means increase in price |
Re: Nigeria Joins OPEC To Cut Crude Oil Production by kumulus(m): 6:32pm On Apr 10, 2020 |
Shindara91: Investment of $20 (#7200) 10% of #7,200 = #720 For 20days; 720 * 20 = #14,400 If investment capital of $20 (#7,200) returns #14,400 in 20days, how many days will it take for same investment to return #10,000? |
Re: Nigeria Joins OPEC To Cut Crude Oil Production by kumulus(m): 6:33pm On Apr 10, 2020 |
Nairalandmonika: OPEC decisions only provide volatility in most cases and not necessarily give direction.
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Re: Nigeria Joins OPEC To Cut Crude Oil Production by sulaak(m): 8:00pm On Apr 10, 2020 |
EdiskyHarry: Your benefits are the corrupt politicians and collaborators such as Rotimi, GEJ, Akpabio and many more. |
Re: Nigeria Joins OPEC To Cut Crude Oil Production by ikezudon(m): 5:44am On Apr 11, 2020 |
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