BP, Vitol clash over Nigerian crude oil
Oil major BP has clashed with rival Vitol in the Nigerian crude market, buying up cargoes and taking a big derivative position that may have raised costs for European refiners, according to Reuter
Nigeria’s crude oil production dips by 70, 000 bpd
Nigerian crude oil output slipped by 70,000 bpd, last month, as exports of Bonny Light crude were under force majeure for part of the month, even as traders said loadings of some other grades, including Qua Iboe and Forcados, also faced delays.
Breaking: FG to commence crude oil tracking by 2019
The Federal Government, Moday, stated that from 2019, the country would begin tracking Nigeria’s crude oil and would be able to account for every drop of the commodity produced in the country.
Henceforth, Nigeria to bear costs, risks of crude oil sales — NNPC
The Nigerian National Petroleum Corporation, NNPC, Thursday, said it plans to undertake a review of its approach to crude oil sales, declaring that in the days ahead, it would commence the sale of more of the country’s crude oil on a Cost, Insurance and Freight, CIF, basis.
Crude oil allocation follows strict process, NNPC warns Nigerians
The Nigerian National Petroleum Corporation, NNPC, Sunday, disclosed that its crude oil allocation programme follows strict procedures, processes and standards, while it warned unsuspecting members of the public against the activities of scammers.
Crude oil output increased mostly in Libya, Nigeria, Saudi Arabia – OPEC
Crude oil production by OPEC members increased slightly in July, including Saudi Arabia, which had championed efforts by the oil cartel and allies to extend an output freeze.
