Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL
Nigeria’s Dangote refinery is not expected to start commercial-scale refinery runs before Q3 2024, according to S&P Global analysts.
- Nigeria will move to a net refined products exporter by 2025-end, Platts added.
- Platts added that Nigeria has encountered difficulties offloading its light-sweet crude during 2023.
- The price cap on Russian oil has undercut African crudes. India imported 366.5k b/d of Nigerian crude in Jan 2022, but this had fallen to 93k b/d by Jan 2023.
- Although it has found new buyers, Bonny Light has frequently traded at a discount to Brent. It was at an 80 cents/b premium as of Dec. 12
- A WAF trader told Platts that 2023 has been hit by continued unreliability among many grades, rising competition from increasing US exports, and demand moving from Asia to Europe and Canada.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok