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60 Nigerian Oil Cargoes Unsold Despite Price Cut - Politics - Nairaland

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60 Nigerian Oil Cargoes Unsold Despite Price Cut by ogododo: 8:38am On Apr 15, 2020
A total of 60 Nigerian crude oil cargoes have not been sold despite the reduction of the official selling prices by the Nigerian National Petroleum Corporation.

A glut of Nigerian and Angolan crude weighed on the market on Tuesday with demand from China slower than in the last few weeks, Reuters reports.

“It’s a buyer’s market right now,” one trader was quoted as saying, adding that nothing was shifting.

According to Reuters, the glut of unsold Nigerian oil was around 60 cargoes for April and May, and cargoes of Qua Iboe and Bonny Light crude continued to be offered at around dated Brent minus $3.

The Nigerian National Petroleum Corporation was reported in March to have cut its April official selling prices for Bonny Light and Qua Iboe, two of the nation’s major grades, by $5 per barrel to dated Brent minus $3.29 and minus $3.10 per barrel, respectively.

https://punchng.com/60-nigerian-oil-cargoes-unsold-despite-price-cut/

6 Likes

Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by yanabasee(m): 8:40am On Apr 15, 2020
Seems the coronavirus is cashing in more than the oil at the moment..... So, all interest and focus is on the money making corona.....



But, I pray we survive the recession that will follow up.... with the excess borrowing and wrong monetary policies....

5 Likes

Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by Amotolongbo(f): 8:45am On Apr 15, 2020
May they not see buyers for them.

Just as if every revenue the FG realize now are diverted elsewhere to their own account under the guise of corona fighting

79 Likes 5 Shares

Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by godofuck231: 8:47am On Apr 15, 2020
apc wanted power, now they are power drunk, and still incapacitated and ignorant, all they do best is rape the economy and country's treasury

90 Likes 5 Shares

Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by JunctionBox: 8:51am On Apr 15, 2020
Buhari/APC in confusion.


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8 Likes 1 Share

Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by Biafrarep(m): 8:56am On Apr 15, 2020
Lol, but the idiot of Daura was busy using the little money left to be searching for oil in the North instead of the much hyped agriculture. The chicken has finally come home to roost.

100 Likes 4 Shares

Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by Tetrahedron(m): 9:12am On Apr 15, 2020
Guys we are getting to that point in our history that direct and difficult questions will be asked !

At 60yrs, this might be what has broken the camel’s back

46 Likes 4 Shares

Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by ogododo: 9:15am On Apr 15, 2020
Biafrarep:
Lol, but the idiot of Daura was busy using the little money left to be searching for oil in the North instead of the much hyped agriculture. The chicken has finally come home to roost.
Na only Warri / NigerDelta Area oil de

3 Likes 2 Shares

Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by hisexcellency34: 9:16am On Apr 15, 2020
Let them drink the oil nah. I thought they said they want to diversify the economy?

36 Likes

Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by ogododo: 9:23am On Apr 15, 2020
Party don de end be this

10 Likes

Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by Iamgrey5(m): 9:27am On Apr 15, 2020
Very little demand from Europe

And smaller demand from Asia

America doesn't buy much of our oil

19 Likes 1 Share

Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by ogododo: 10:16am On Apr 15, 2020
Iamgrey5:
Very little demand from Europe

And smaller demand from Asia

America doesn't buy much of our oil
Lalasticlala Oil don pafuka

3 Likes

Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by buJu234: 10:40am On Apr 15, 2020
Why cant the govt. jst focus his energy now that we still have it and diversify this economy?

No more audio diversification .

1 Like 1 Share

Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by Kygoraphael(m): 1:27pm On Apr 15, 2020
I hope this does not impact negatively on the economy

1 Like

Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by Nobody: 1:28pm On Apr 15, 2020
Quarantine them or give them back to Niger Deltans to drink, they always shout na our oil..


Share give them small to touch their oil..

1 Like

Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by GeneralPula: 1:28pm On Apr 15, 2020
sad
Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by Isoduwa(m): 1:28pm On Apr 15, 2020
Who still dey buy oil ?

1 Like

Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by Bevista: 1:29pm On Apr 15, 2020
The entire world is on shutdown. Factories are closed, folks are not driving their cars, airlines are not flying. The major industries that use oil are in shutdown. Brent, as at this morning, was trading just above $28. Nigeria is offering a $3 discount on that, yet not getting buyers.

If things don't improve as quickly as possible, Nigeria will experience one of its worst economic crisis. The government may soon start complaining of its inability to pay salaries. This is going to be exacerbated by locking people in and not allowing private enterprise.

32 Likes 2 Shares

Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by YorubaKinging: 1:29pm On Apr 15, 2020
Nothing is going to be the same

The so called " Antichrist" will announce In few days a global initiative of the post "coronaVirus Era"

He will also tell you how the only way to win this "war" is by vaccine

His name is Emmanuel Macron

4 Likes 1 Share

Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by Nobody: 1:29pm On Apr 15, 2020
Really looking forward to post-Covid Season!

But one Sure thing is GOD ALMIGHTY will Preserve HIS people

12 Likes 1 Share

Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by Compliant(m): 1:29pm On Apr 15, 2020
BUT THE GOVERNMENT SAID OTHERWISE
Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by Nobody: 1:29pm On Apr 15, 2020
K
Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by Seventy7kings: 1:30pm On Apr 15, 2020
shocked
Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by PureGoldh(m): 1:30pm On Apr 15, 2020
Inflation fit strike

2 Likes

Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by Houseofglam7(f): 1:30pm On Apr 15, 2020
undecided
Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by mrofficial240(m): 1:30pm On Apr 15, 2020
reccession loading


See my signature for info on how to earn free money online

2 Likes

Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by Compliant(m): 1:31pm On Apr 15, 2020
PureGoldh:
Inflation fit strike

THAT IS FOR SURE BECAUSE DOLLAR WILL ENTER 500NAIRA PER DOLLAR VERY VERY SOON

1 Like

Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by EzzyCarter: 1:31pm On Apr 15, 2020
Make dem use am fry Chin-chin na cheesy Useless lots
Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by rusher14: 1:31pm On Apr 15, 2020
buJu234:
Why cant the govt. jst focus his energy now that we still have it and diversify this economy?

No more audio diversification .

You mean like producing local rice that you have since rejected.

I dey laugh many Nigerians.

Last last you would know the time.

Everything is audio to you.

You go see video soon.

10 Likes 3 Shares

Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by Abdulrahmann100: 1:31pm On Apr 15, 2020
.
Re: 60 Nigerian Oil Cargoes Unsold Despite Price Cut by Millz404(m): 1:31pm On Apr 15, 2020
so this is how the vision 2020 turned out..

9 Likes

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