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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
No flows have been seen in Nigeria’s Trans Niger oil pipeline since mid-June according to a report from Bloomberg.
- The pipeline is capable of flowing 180kbpd but oil theft has gradually been limiting flows in recent years.
- The capacity of the pipeline accounts for 15% of Nigeria’s average daily output but has not been formally shut.
- The OPEC member has been producing well below target levels due to oil theft and a lack of investment. June production is estimated at approximately 1.2mbpd compared to an OPEC target of 1.77mbpd.
- The graph below shows the reduction in Nigeria’s crude oil production:
Source: Bloomberg
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.
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