Echotitbits – Nigeria News

Tag: Nigerian crude

  • 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

  • Nigeria’s Oil Output Rises by 35,000 Barrels Per Day in November

    Nigeria’s Oil Output Rises by 35,000 Barrels Per Day in November

    Photo Credit:Punch Newspapers

    Nigeria’s crude oil production increased by 35,000 barrels per day in November, according to new data from industry trackers. The rise reflects modest gains from improved security in some fields and ongoing efforts to tackle theft and pipeline vandalism.

    While still below the country’s full capacity and official quota, the uptick offers slight relief for government revenues and foreign‑exchange inflows. Analysts caution, however, that sustained recovery will require deeper reforms, including infrastructure upgrades, better metering and stricter enforcement against illegal bunkering.

    Source: Punch Newspapers – 12 Dec 2025

    2025-12-12 10:00:00 Punch Newspapers – 12 Dec 2025 2025-12-12