Daily Archives: March 12, 2018

Nigerian crude faces glut as buyers reject cargoes

    Indications emerged Thursday that a glut in Nigeria’s oil supply to the international market looms. A trader said the development comes as ample supply of light and medium grades from the North Sea and the Mediterranean continues to limit buying interest for Nigerian crude. The Nigerian cargoes, reckoned to be near 50 cargoes, […]

Nigeria State Oil Company Hasn’t Explained Missing Billions

An agency tasked with cleaning up Nigeria’s murky oil industry says even though financial accountability has improved the state oil company still hasn’t explained billions of dollars of missing revenue.   While energy producers have cooperated and complied with requirements to publish payments, the Nigeria Extractive Industries Transparency Initiative has struggled with the state-owned Nigerian […]