Possible oil bum? Can Nigeria Turn it to its favour?

Reports circulating around in the media has it that Oil prices rose  yesterday

as strong global refining margins and the reopening of United States Gulf Coast refineries provided a more bullish outlook after sharp drops due to Storm Harvey.

Brent had gained 82 cents to 54.20 dollars a barrel by 1215 GMT. U.S. West Texas Intermediate (WTI) crude futures were up 55 cents at 49.21 dollars a barrel.

“Prices are extending the momentum seen in the last few days due to a number of U.S. refineries restarting after Harvey,” said Harry Tchilinguirian, Head of Commodity Markets Strategy at BNP Paribas.

Many refineries, pipelines and ports that were knocked out by Harvey 10 days ago are restarting. On Tuesday, about 3.8 million barrels per day (bpd) of refining capacity, or 20 per cent of the U.S. total, was shut.
This compares with 4.2 million bpd at the height of the storm. But traders remained wary of Hurricane Irma, rated the most powerful Category 5 storm and heading towards the Caribbean and Florida, raising concerns that it could knock out other refineries and cause more fuel shortages.

Forget all these lengthy marketing terms, we all know Nigeria isn't affected by hurricane.

The question is isn't it an avenue for Nigeria to produce and make the extra dollar?
As the country seems to be wallowing in shortage of reserve?

Or do you think those in charge are too myopic to see these?

Do you think it goes beyond these? And There is no positivity in that?

Nigeria is ours!!! And ours to make great!!!
Make your thoughts known

As always we love your feedbacks comments and  email...your are the best!

Comments

Post a Comment

Popular posts from this blog

Some Tips for Today

Image
*These Are The Facts Of Life* 1. In life those with the Lion Heart get the Lion share. 2. In life only the Bold get the Gold. 3. In life only those with the Liver get the Silver. 4. In life only the Risk takers become Rich. 5. In life only the Brave becomes Great, Successful and Wealthy. 6. In life nothing happens until you make it happen for yourself. 7. Behind anything Automatic is a 'Human-matic' effort. 8. In life what you don't expect, you won't experience it. 9. In life what you don't desire, you do not deserve it. 10. If you keep on waiting for the Right Time, Right Job, Right Opportunity, you will keep on wasting your life….. 11. Your youth is your Peak, if you miss your Peak, you will end in the Pit of life and you become an object of Pity. 12. What you do not Imagine, you will not Manifest. 13. Whatever you can Conceive and Believe, you can Achieve. 14. Whatever you can Conceptualize and Visualize, you can Actualize it. 15. What you don'...
Read more

Discovery

Image
The level any man duels is a function of the amount of light(knowledge) he has in him. Light doesn't just come, it comes through studies and meditation. It is this light that brings productive steps,  "it is not how many steps we have taken that brings us to our destination but rather How many steps in the right direction. The scriptures tells us in proverbs 6:31-32 "if a man should steal he is free, but when he is found he will restore that which he has taken and he will lose all the possession in his house" I will to tell you brethren that whatsover the devil steals remains his, until he is found. Until you know what he has stolen, there won't be a restoration. Every restoration begins with a discovery of what is lost! Till you know what is yours according to scriptures, the devil will continue mocking you.. My prayer for you today is You shall receive light! You shall recover all you have lost You shall have double for your shame All the...
Read more

Buhari already changing things?...How has the president's return being impacting the country?

Image
The return to the country of the president has been met with a lot of optimism, as it looks like the country can now finally move forward with its restructuring agenda. Even the capital market smiled with the recent reports that  The naira, yesterday, further appreciated in the  parallel market even as the Central Bank of Nigeria (CBN) injected $297 million into the interbank foreign exchange market. These looks like a welcome development once again as it clearly looks as a step in the right direction But other camps have been unmoved with the recent turn of events stating it is just the country trying to get back to the where it was economically before the buhari era. Now the question is Do you think the return of the president has been having a positive result on the country? Do you think these is nothing compared to the diverse issues being felt by the country? Do you see Nigeria moving in the right direction? Or is it all one big mirage created by the elect to fool ...
Read more