No Buyer Has Rejected Nigeria’s Crude - NNPC     No buyer of Nigerian crude oil has returned or rejected it despite the glut in global crude oil market, the Group Managing Director, Nigerian National Petroleum Corporation, Mele Kyari, stated on Monday. Kyari explained that although some vessels...

Nigeria Struggles To Sell Oil Despite Price Cut   Despite the significant reduction in its official selling prices aimed at wooing buyers, Nigeria is still struggling to sell its crude oil as Indian refiners are cutting back on output while European plants are considering closures. Nigeria, Africa’s...

Nigeria To Suffer $15.4bn Loss In Crude Oil Earnings – Analysts   Nigeria and other African economies are projected to record substantial revenue losses, particularly from the oil and gas sector, as the devastating effects of the Coronavirus pandemic continues its devastating toll on the...

Nigeria Slashes Crude Selling Prices To Woo Buyers   Nigeria has cut the official selling prices for its crude oil to record lows to clear a glut of unsold April-loading cargoes before releasing the May programme on Monday. The country has had to grapple with an unprecedented...

Crude Oil: Saudi Arabia Dips Into Stockpiles Saudi Arabia, the world’s largest crude exporter, further dipped into crude stockpiles in January as exports declined for the first time in four months, data released on Wednesday by the Joint Organisations Data Initiative showed. Exports dropped to 7.29...

Oil Crash: Nigeria May Lose $8.63bn In 6 Months   Nigeria’s economy may slide into another recession as the sudden crash in crude oil prices is set to wipe $8.63bn from the expected earnings accruable to the country in six months. Already, the nation has lost over...