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.
BRENT WTI  SLUMP AFTER THANKSGIVING ON OPEC & OVERSUPPLY CONCERNS

BRENT WTI SLUMP AFTER THANKSGIVING ON OPEC & OVERSUPPLY CONCERNS

THE DAY AFTER THANKSGIVING THE MARKET SLUMPS   The day afer Thanksgiving Brent fell almost $1.44 per barrel and WTI fell nearly $3 per barrel with oil prices seeing their largest single day drop in around two and a half months. The sharp drop has been variously attributed in part to...

RUSSIAN OIL CONTAGION DROPS WTI BY 6%

RUSSIAN OIL CONTAGION DROPS WTI BY 6%

Oil futures closed lower  after reports emerged that Russian Energy Minister Alexander Novak said Russia’s oil output cuts in August will be slightly smaller those agreed to under the deal between OPEC and non-OPEC producers. RIA and Interfax news agencies quoted Russian Energy Minister Alexander Novak as saying he will discuss...

TRUMP AGREES PHASE ONE DEAL WITH CHINA BUT NO TEXT YET

TRUMP AGREES PHASE ONE DEAL WITH CHINA BUT NO TEXT YET

The sporadic trade negotiations between the US and China have been paused as President Trump has agreed to a phase one agreement in principle as December 15th looms large. Trump reportedly signed off on a phase one trade deal with China, averting the December 15th deadline which would trigger  another round...

BRENT WTI END 2019 UP 24% AND 36% FOR THE YEAR AS MARKET SLOWS

BRENT WTI END 2019 UP 24% AND 36% FOR THE YEAR AS MARKET SLOWS

WTI crude, the U.S. benchmark, and Brent, the global benchmark, are up around 11.8% and 10.4% this month, respectively. That puts WTI on track for a 36% gain so far this year, while Brent is up around 24%. Trading was quiet on a Monday on the penultimate session of the year....

ARAMCO HIT $2 TRILLION BUT LONG TERM VALUE STILL UNCERTAIN

ARAMCO HIT $2 TRILLION BUT LONG TERM VALUE STILL UNCERTAIN

Saudi Aramco hit the  $2 trillion valuation on Thursday, briefly achieving the target demanded by  Crown Prince Mohammad bin Salman in 2016. It only  took a day after the Saudi state-backed oil company made its stock market debut. Aramco’s shares rose by 10% on  its first day of trading , the...

CRUDE OIL IMPORTS  CREATE CHINESE PUZZLE

CRUDE OIL IMPORTS CREATE CHINESE PUZZLE

COVID19 THE CHINESE PUZZLE It is by definition complex, intricate, requires ingenuity and is perplexing. Out of a clear blue sky just as market analysts had snugly settled down with their forecast outlook for 2020, it  emerged without warning, a shock that  the market is still yet to fully comprehend. Despite...

RUSSIA WAGE WAR ON US TO END SHALE'S FREE RIDE

RUSSIA WAGE WAR ON US TO END SHALE'S FREE RIDE

RUSSIA AND SAUDIS DECLARE WAR ON THE US.   Many of us have been  brought up in the empirical tradition that avers "if it looks like one, walks like one and quacks like one, it is a duck". If I didn't know better,  I would say that the so called Russia-Saudi...

SHALE FLEES  TO THE SANCTUARY OF PROTECTIONISM IN THE AGE OF TRUMP

SHALE FLEES TO THE SANCTUARY OF PROTECTIONISM IN THE AGE OF TRUMP

 "If I have to do tariffs on oil coming from outside or if I have to do something to protect our ... tens of thousands of energy workers and our great companies that produce all these jobs, I'll do whatever I have to do," ...  . Unless US Shale is about...

Royal-Dutch-shell-station Shell shelve buy back and dividend?

CORONAVIRUS FEARS SHELVE BP BUY BACK

SHELL SHELVE OIL BUY BACK The UK’s biggest company, Shell, will slow a $25 billion shareholder buyback to a trickle after tumbling oil prices forced it to put more money aside for a rainy day. The oil major is currently undertaking the world’s largest shareholder buyback, returning cash made from a...

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