News Central TV | Latest Breaking News Across Africa, Daily News in Nigeria, South Africa, Ghana, Kenya and Egypt Today.News Central TV | Latest Breaking News Across Africa, Daily News in Nigeria, South Africa, Ghana, Kenya and Egypt Today.
    Facebook Twitter Instagram YouTube
    • Politics
    • Business
    • Sports
    • Features
    • Shows
    • Op-Ed
    • Watch Live
    Facebook Twitter Instagram YouTube
    News Central TV | Latest Breaking News Across Africa, Daily News in Nigeria, South Africa, Ghana, Kenya and Egypt Today.News Central TV | Latest Breaking News Across Africa, Daily News in Nigeria, South Africa, Ghana, Kenya and Egypt Today.
    Watch Live Tv
    OUR TV SHOWS
    • BREAKFAST CENTRAL
    • VILLAGE SQUARE AFRICA
    • BUSINESS EDGE
    • SECURE THE CONTINENT
    • ONE SLOT
    • POLITICS HQ
    • REPORT DESK AFRICA
    • E CENTRAL
    News Central TV | Latest Breaking News Across Africa, Daily News in Nigeria, South Africa, Ghana, Kenya and Egypt Today.News Central TV | Latest Breaking News Across Africa, Daily News in Nigeria, South Africa, Ghana, Kenya and Egypt Today.
    You are at:Home»Business News»West Africa Crude – Bonny Light force majeure lifted
    Business News

    West Africa Crude – Bonny Light force majeure lifted

    News CentralBy News CentralMay 16, 201902 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Email
    West Africa Crude oil - SPDC lifts force majeure on Bonny light
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Shell Petroleum Development Corporation has lifted the Force Majeure declared on the Bonny Light crude from the Nembe Creek Trunk Line, which caught fire early this month. Expected demand from Europe has been linked as one of the motivations for this, with the hope of selling at higher prices.

    Nigeria

    Despite June loading remaining 20 cargoes that could be cleared by next week, more demand is expected from Western countries. European refiners are expected to make more demand to supply for the U.S. Summer months.

    Marathon Petroleum from the U.S. is set to take cargoes of West African crude via very large crude carriers (VLCC) to begin loading in June that will continue for three months. The Qua Iboe grade to be sold at 2.70 U.S. dollars, Forcados to go at 3.40 U.S. dollars and finally Escravos to be sold at 3.30 U.S. dollars.

    Turkey’s Tupras issued a buy tender for a cargo of West African crude for delivery between June 25 and July 10. It was set to close on Wednesday.

    Angola

    Data for Angola’s July loading is being expected but three cargoes of oil crude still remain to be sold for June.  Asian demand is still high but has been weighted down due to widening DUB-EFS-1M at 3.15 U.S. dollars a barrel for BRENT on Monday.

    China is expected to buy more Angola oil to satisfy demand particularly with sanctions on Iran and Venezuela but can not rule out buying from these countries.

    Angola Nigeria Southern Africa Western Africa
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleAfrican trio seal domestic double in Holland
    Next Article African Players Strike Gold As Galatasaray Win Turkish Cup
    News Central

    Related Posts

    Bloomberg Terminal Outage Disrupts Global Traders and UK Debt Auction

    May 21, 2025

    Canal+ Edges Closer to Full Takeover of MultiChoice with Competition Approval

    May 21, 2025

    Top UK Retailer Shuts Sri Lanka Plant, Triggers Protest

    May 21, 2025
    Add A Comment

    Leave A Reply Cancel Reply

    Latest Stories Today

    Ancelotti Bids Farewell to Real Madrid, Wishes Incoming Alonso ‘All the Luck’

    By Abdullahi JimohMay 23, 2025

    Carlo Ancelotti has sent his best wishes to Xabi Alonso, widely expected to succeed him…

    Algerian Army Chief Oversees Military Drill Near Moroccan Border

    CISLAC Raises Alarm Over Teen Activist’s Detention in Zamfara, Amnesty Calls for Probe

    South Sudanese Refugees in Ethiopia at Risk of ‘Health Disaster,’ Warns MSF

    • Facebook
    • Twitter
    • Instagram
    • YouTube
    © 2025 Newscentral Television All rights reserved.

    Type above and press Enter to search. Press Esc to cancel.