Exxon declares force majeure on crude liftings in Nigeria
April 17, 2023 Exxon Mobil Corp. in Nigeria declared force majeure on oil liftings from different terminals in the country following industrial action by the company’s in-house workers union, the…
Physical oil and futures align to tell story of a tighter market next year
The physical crude oil market and the structure of the oil futures curve have rarely been more aligned over the past few years than in recent weeks, and they tell…
Go West: Nigerian oil skirts U.S. shale boom in journey to California
Nigeria’s oil, displaced by U.S. shale, has found an unlikely new outlet this year: the coast of the continental United States that is farthest from the African country’s shores. The…
Despite outages, Nigeria’s crude still in high demand
Angolan crude was in dwindling supply for June because of robust demand while Nigerian grades were heard on Tuesday to be offered at steady, relatively firm levels, reports Reuters. Nigeria…
Nigerian oil Bolstered by Asian demand As U.S. Shale Puts it Under Pressure in Europe
Courtesy: REUTERS The rising tide of light U.S. shale oil has largely swept away comparable grades of Nigerian oil from American shores and is putting them under pressure in Europe….
Nigeria’s Energy Sector’s Crippling Debts Delay Next Power Plant
Plans to build another privately-financed power station in Nigeria to help end decades of chronic blackouts have been delayed because of concerns about persistent shortfalls in payments…