Echotitbits – Nigeria News

Tag: energy markets

  • Nigeria’s Crude Oil Exports to the U.S. and India Show Significant Growth

    Nigeria’s Crude Oil Exports to the U.S. and India Show Significant Growth

    Tribune reports that Nigeria’s share of crude oil exports to the United States and India has risen, with recent surveys putting Nigeria’s share at 3.3% in those markets as other suppliers’ shares declined.

    The growth is attributed to pricing competitiveness for Nigerian sweet crude and geopolitical shifts affecting global supply chains.

    The Guardian and ThisDay also referenced the trend, including demand diversification dynamics and Nigeria’s positioning for Asian refinery demand.

    Echotitbits take: Higher export share is only a win if Nigeria can sustain volumes and reduce leakages. Oil theft, high operating costs, and downtime can erase headline gains. The strategic upside is using export momentum to stabilize FX inflows while domestic refining ramps up—if feedstock supply becomes more reliable.

    Source: The Punch –  https://punchng.com/nigeria-exports-2-57bn-crude-to-us-highest-in-africa/  2026-01-30

    Photo Credit: The Punch

  • Russia Reaffirms Backing for Maduro as US Pressure Squeezes Venezuelan Oil Flows

    Russia Reaffirms Backing for Maduro as US Pressure Squeezes Venezuelan Oil Flows

    Photo Credit: NDTV (AFP)
    2025-12-23

    As reported by NDTV (AFP) Venezuela says Russia reaffirmed full support as the US increases pressure around sanctioned oil shipments.

    The episode is unfolding amid tougher enforcement against sanctioned movements, raising the risk of rerouting, discounts, and higher logistics costs.

    For markets, the main risk is disruption: fewer willing buyers, elevated compliance costs, and more volatile shipping behaviour.

    NDTV (AFP) quoted Venezuela’s account that Lavrov “reaffirmed its full support…”. Associated Press reported escalating US warnings, quoting Trump’s language about Maduro who “plays tough”.

    Echotitbits take: When sanctions enforcement tightens, shipping risk premiums rise and crude flows get noisier. Watch for shifts in buyer behaviour, insurance constraints, and whether alternative routing expands.

    Source: NDTV (AFP) — December 23, 2025 (https://www.ndtv.com/world-news/venezuela-says-russia-expressed-full-support-against-us-hostilities-9882362)
    NDTV (AFP) 2025-12-23

  • Global surplus leaves Nigerian crude cargoes searching for buyers

    Global surplus leaves Nigerian crude cargoes searching for buyers

    Photo Credit: Punch / Reuters
    2025-12-19 15:00:00

    Reuters, via a report carried by The Punch, says Nigerian crude sellers are facing weak demand for multiple December-loading cargoes due to a wider global surplus and cheaper alternative supplies.

    The overhang highlights how Nigeria’s fiscal stability remains exposed to global oil-cycle swings—especially when barrels clear only at discounts.

    Verification: Reuters-based reporting republished by Channels TV and TRT Afrika also described unsold Nigerian crude cargoes and a supply glut context.

    Quotes: Channels TV: “Nigerian oil struggles to find buyers…” TRT Afrika: “struggling to find buyers… due to… cheaper alternative supplies…”

    Analysis/Echotitbits take: This is a revenue-and-FX warning sign. Watch for price differentials, production stability, contract competitiveness, and whether non-oil export reforms accelerate as a hedge.

    Source: The Punch — 2025-12-19 — https://punchng.com/global-oversupply-leaves-nigerian-crude-unsold/

    The Punch 2025-12-19