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Tags: Bonny Light

Nigerian Crude Cargos boosted by Gasoline cracks in Europe

Nigerian Crude Cargos boosted by Gasoline cracks in Europe

Nigerian crude cargoes have received some support from favourable refining margins in Europe. Around 15-20 Nigerian cargoes remained for May loading. Major Nigerian grades Bonny Light and Qua Iboe continued to be indicated at or above a $2.00 premium compared to dated Brent, which buyers have been reluctant to meet for weeks. But Nigerian light… READ MORE

Nigeria loses Africa’s top oil producer position to Angola

Nigeria loses Africa’s top oil producer position to Angola

Sheds N83 billion in one month Nigeria’s crude oil production fell by 156,900 barrels per day (bpd) to 1.269 million bpd in March, from 1.426mbpd recorded in February. Consequently, the country lost its status as Africa’s top oil producer to Angola, according to latest data from the Organisation of Petroleum Exporting Countries (OPEC). With the… READ MORE