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+44 788 084 2065
tex@synterra.co
+44 788 084 2065
tex@synterra.co
NIGERIA: THE CRUDE OIL ECONOMY
Synterra the Nigeria Risk Management Consultants provide insight into how the oil markets affect the Nigerian economy. Nigeria's reliance on crude oil receipts is total. At a time of increasing volatility and uncertainty this blog seeks to provide an analysis of the effect the global energy markets have on business in Nigeria, their relationship with OPEC and how local policy decision making affects investment opportunities.
Oil prices have retreated back to the pre- strike levels as Aramco reports it has restored full production capacity. Their prompt actio has made markets reluctant to demand much, if any, oil price risk premiums, as if we are to believe what we are told, the Saudi's have the ability to...
In June, I wrote an article about an impending tragedy ( READ REPORT)set to befall an unwitting and unsuspecting Nigeria led by a bunch of somnambulant muppets that masquerade as political leadership. The litany of how Nigeria has arrived at this point is a shocking narrative of incompetence, misconduct in public...
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Despite taking the scenic route, which included an unscheduled detention in Gibraltar and a meandering sometime convoluted voyage, the MT Adrian Darya 1 finally reached its disport. Iran has confirmed that the tanker formerly known as MT Grace 1 suspected of trying to deliver Iranian oil to Syria in defiance of...
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Iran’s oil Minister Bijan Namdar Zanganeh told reporters in Tehran today that an oil field whose discovery President Hassan Rouhani announced over the weekend adds only 22.2 billion barrels to the country’s estimated crude reserves. Out of the amount at the site, only a tenth, 2.2 billion barrels can be extracted...
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IS THE US ECONOMY TRENDING TOWARDS RECESSION Oil fell as concerns about the U.S. economy triggered another sharp selloff on Wall Street, with the S&P 500 off 1.7%, falling below 2,900. Crude oil benchmarks fell n morning trading Wednesday on the NYMEX on a larger than forecast build in crude...
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The American Petroleum Institute (API) had estimated a crude oil inventory build of 401,000 barrels for the week ending Aug 29, compared to analyst expectations of a 3.50-million barrel draw. There will be an explanation for the disparity but that is not the most important thing at the moment Had that...
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Far East Refiners margins have been hit hard as freight rates soar. Spot VLCC freight rates for shipping crude from the Persian Gulf to the Far East breached the 200 Worldscale mark with ship owners earnings extending beyond the $200,000/day figure for the first time in over a decade. The dearth...
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The end of days for OPEC is nigh, not only has it outlived its usefulness, it is no longer fit for purpose. In a global economy so vastlydifferent from the time the organisation was established the impending Aramco IPO provides a clear indication, if any were needed as to the direction...
A combination of tardy economic growth, a reduction in global oil demand, falling energy prices and shrinking margins in the petchem market have seemingly conspired to plunge 3rd quarter earnings for supermajors. Five of the world’s largest publicly traded oil and gas companies, Exxon Mobil Corp., Royal Dutch Shell Plc, Chevron...
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