Saturday, November 17, 2018

Tag "HPCL"

    India considers dumping Nigeria’s oil for US crude

India considers dumping Nigeria’s oil for US crude

India's Hindustan Petroleum Corporation is considering dumping Nigeria's sweet crude for US oil.This is coming less than three years after the Americans stopped imports of Nigerian oil. After the US stopped the purchase of Nigerian oil under Barack Obama, Nigeria turned to Asia, partularly India and China for oil sale.In 2015-16, India imported nearly 23.7 MMT of crude (nearly 12% [...]

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    Despite falling oil prices, OPEC increases supply

Despite falling oil prices, OPEC increases supply

Regardless of the falling oil prices, the Organisation of Petroleum Exporting Countries (OPEC) has experienced an increase in crude oil supply to the global market.OPEC supply has increased in September to 31.68 million barrels per day (bpd) from a specially revised 31.57 million in August, 2015.The increase was traced to Iraq’s recovery, from disruption that had halted supply growth from [...]

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    Nobody willing to lift Nigeria’s crude, Indian investor laments

Nobody willing to lift Nigeria’s crude, Indian investor laments

India’s Hindustan Petroleum Corp (HPCL) has revealed the difficulty it is facing in investing in Nigeria’s oil, saying nobody is willing to lift the country’s oil.BK Namdeo, HPCL director of refineries, said the energy company would be cautious in future investments in Nigeria’s oil.“We are finding it difficult to book a vessel to lift Nigerian crude... We will be cautious [...]

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Exchange Rates

November 16, 2018USDGBPEUR
INTERBANK306397354
LAGOS359475418
KANO359476420
PH360476420
ABUJA359478419
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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