Besides, the US currency strengthened against the euro, also weighing on dollar-denominated oil after the International Monetary Fund pulled out of stalled debt talks with Greece
Browsing: crude oil
“Our prices are indexed to crude, at least a significant portion of our portfolio. The price of gas is indexed to Brent, hence if there is a fall in the prices of Brent, it means we will sell for less
But a report from the industry group, American Petroleum Institute, showed that the drop was due to the US crude, stocks which rose more than six million barrels last week
Oil prices have dropped by nearly 60 per cent since June as production around the world has soared, outstripping demand at a time of lack-lustre global economic growth
The US which had traditionally taken the bulk of Nigeria’s crude has in recent months drastically reduced its demand which now stands at about 250,000barrels per day. India however now purchases some 30 percent of Nigeria’s daily crude production which currently hovers around 2.5million barrels
The Managing Director of the Imo State Oil Producing Area Development Commission, Dr. Henry Okoro, revealed this in an interview with the News Agency of Nigeria in Owerri, the Imo State capital, on Friday
It said that the barges and boats were arrested between January 9 and 19, 2014 by the anti-illegal oil bunkering patrol squads
Jonathan has been at loggerheads with the National Assembly over the benchmark for crude oil
Governor Uduaghan explained that it was informed by the importance of peace and security to the development of the country and particularly to meet the infrastructural and security needs of the police
The shutdown was triggered by a row over state spending were offset by a tropical storm curbing supply in the Gulf of Mexico
“One of such is the setting up of a Security Strategy Committee headed by Governor Emmanuel Uduaghan of Delta,” the statement said
He confirmed that the accident occurred on Friday when the barge ran
aground some nine nautical miles on the shallow waters of St. Nicholas
River
Chief Mark Eketekpe, a community leader in Ijawkiri area of Odioama,
told NAN: “Actually, something like that happened a few days ago but
we don’t know where the vessel came from
According to him: “India will continue to cooperate with Nigeria to improve her economy, and we will assist Nigeria in the capacity building of workers in both the public and sector as one of the ways to revamp Nigeria’s economy