West African Crude Flows Slow; Sellers Hold Cargoes Amid Hormuz Closure
West African crude oil trade for April-loading cargoes has slowed, despite shortages caused by the Iran war, as sellers reserve barrels for their own refineries unless particularly high bids emerge, four crude traders told Reuters.The unusual development is another sign of how the U.S.-Israeli war against Iran, which has effectively shut tanker traffic through the Strait of Hormuz and forced Middle East producers Saudi Arabia, Kuwait and Iraq to cut output, is affecting flows and trading in the global physical market.Around 20 West African crude cargoes on the April loading schedule are available to buy…
Nigerian Crude Oil Loading Programs Hold Steady for April
Loading of four key Nigerian crudes in April will hold steady, preliminary loading programmes seen by Reuters showed, while lower demand and high freight rates continued to weigh on Angolan differentialsAmong recent offers was Kissanje at dated Brent minus 85 cents, compared to dated Brent minus $1 heard in December, showing demand had slowly picked up, a trader said.Others were Angola's Hungo crude at dated Brent minus $3.15, compared to minus $1.90 heard in January, and Olombendo crude were last heard at dated Brent minus 95 cents, compared to the earlier-heard plus 45 cents in November as per LSEG data, showing the grades were still under pressure.Angola's March loadings were sl
Indian Diesel Exports to West Africa Jump as EU Bans Russian Derived Fuel
India stopped exporting diesel to the European Union this month due to the European Union's ban on fuel derived from Russian crude and instead sent a record amount to West Africa, shipping data from Kpler and Vortexa showed, while Turkey's diesel exports to the EU slowed in recent months.The developments highlight that the EU policy, aimed at punishing Russia over its 2022 full-scale invasion of Ukraine, is prompting a further reordering of intercontinental oil flows, forcing India’s oil refineries to seek new markets and disrupting Turkey's lucrative…
Nigeria’s Refining Revolution is Reshaping West Africa’s Energy Landscape
The launch of the Dangote Refinery near the Port of Lagos presents an exciting opportunity to transform the energy and shipping markets in West Africa. And it stands to boost Nigeria’s role as an influential player in the global oil industry, fostering economic growth and regional development.Nigeria’s standing in the global energy landscape is getting a boost with domestic refining capacity expanding in 2025. The Dangote Refinery near Lagos presents a transformative opportunity for Nigeria’s economy and is expected to reshape global tanker routes and trade flows.The country has long been a leading exporter of crude oil, taking advantage of its abundant natural reserves.