Not less than 50 cargoes of crude oil from Nigeria have not found landing owing to the outbreak of Coronavirus, officially names COVID 19...
Not less than 50 cargoes of crude oil from Nigeria have not found landing owing to the outbreak of Coronavirus, officially names COVID 19.
“LNG cargoes that are stranded with no hope of being purchased because there is abrupt collapse in demand associated with the outbreak of coronavirus.” Kyari expressed its readiness to strategically put in place measures that would alleviate the cost of crude oil production in Nigeria to create market for Nigeria’s crude and make Nigeria a choice destination for Foreign Direct Investment.According to him, at the moment the cost of crude oil production in the country was within the range of $15 to $17 per barrel.
He noted that due to the uncertainties of the global crude oil market, countries that produce at the cheapest price would remain in the market while jurisdiction with high cost of crude oil production would not be able to cope with the competing prices.
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