NIGERIA’S CRUDE EXPORTS SUFFER SETBACK, 18 CARGOES UNSOLD
By Sulaimon Salau
THERE were indications that differentials of Nigerian crude oil grades may fall this week, as
about 8 cargoes scheduled for July exports remained unsold.
Meanwhile, the Nigerian National Petroleum Corporation (NNPC) has begun to strategise on the best modalities to adopt, over emerging challenges from the rising competition at the global supply market.
Trade sources showed apathy for the sweet crude exports with the sizable number awaiting orders, out of 63 cargoes schedules for export in the month.
This is coming as the Shell Petroleum Development Company of Nigeria Limited (SPDC) suspended production from its EA oil field in the Niger Delta.
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