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+44 788 084 2065
tex@synterra.co
+44 788 084 2065
tex@synterra.co
NIGERIA: THE CRUDE OIL ECONOMY
Synterra the Nigeria Risk Management Consultants provide insight into how the oil markets affect the Nigerian economy. Nigeria's reliance on crude oil receipts is total. At a time of increasing volatility and uncertainty this blog seeks to provide an analysis of the effect the global energy markets have on business in Nigeria, their relationship with OPEC and how local policy decision making affects investment opportunities.
HOUTHI REBELS CATCH SAUDIS ASLEEP WITH DRONE STRIKES AT ABQAIQ & KHURAIS
THE HOUTHI REBELS DRONES EXPOSE SAUDI UAE AND US AIR DEFENSE The Houthi Rebels conjure up a picture of a poorly trained and ill equipped fighting force, the sort that would seek refuge in caves or a djebel somewhere in the desert. But like so many of the rag-tag resistance groups...
NIGERIA VOW TO COMPLY WITH OPEC QUOTA AS SAUDI PONDER MORE CUTS
Nigeria has pledged to cut production by 57,000 barrels a day to comply with its agreed OPEC+ quota. This vow came as the joint marketing monitoring committee formed by OPEC and its allies known as OPEC+ met on Thursday in Abu Dhabi prior to the policy decision making meeting in Vienna...
HAS ADRIAN DARYA 1 FINALLY SOLD ITS CARGO TO SYRIA DESPITE SANCTIONS AND GIBRALTAR?
Despite taking the scenic route, which included an unscheduled detention in Gibraltar and a meandering sometime convoluted voyage, the MT Adrian Darya 1 finally reached its disport. Iran has confirmed that the tanker formerly known as MT Grace 1 suspected of trying to deliver Iranian oil to Syria in defiance of...
API INVENTORY DATA SUPERCEDED BY EIA NUMBERS TO CALM SURPRISED MARKET
The American Petroleum Institute (API) had estimated a crude oil inventory build of 401,000 barrels for the week ending Aug 29, compared to analyst expectations of a 3.50-million barrel draw. There will be an explanation for the disparity but that is not the most important thing at the moment Had that...
BRENT WTI MOVE UP ON PROMISE OF US-CHINA TRADE TALKS
Brent Oil Futures was up 0.13% at $61.03 a barrel, as of 12:40AM ET (04:40 GMT), while Crude Oil WTI Futures was up 0.12% at $56.37 a barrel. The EIA released an forecast predicting U.S. crude oil inventories decreased 4.8 million barrels in the week to August 30. This comes after...
RUSSIAN OIL CONTAGION DROPS WTI BY 6%
Oil futures closed lower after reports emerged that Russian Energy Minister Alexander Novak said Russia’s oil output cuts in August will be slightly smaller those agreed to under the deal between OPEC and non-OPEC producers. RIA and Interfax news agencies quoted Russian Energy Minister Alexander Novak as saying he will discuss...
A SORDID SAGA LIKE NO OTHER COSTS NIGERIANS $9.6bn
In June, I wrote an article about an impending tragedy ( READ REPORT)set to befall an unwitting and unsuspecting Nigeria led by a bunch of somnambulant muppets that masquerade as political leadership. The litany of how Nigeria has arrived at this point is a shocking narrative of incompetence, misconduct in public...
CONTRADICTORY TRUMP STATEMENTS MOVE MARKETS - LIKE INSIDER TRADING
The crude oil market is hostage to a global economy which shows every sign of entering into a recession in 2020. Yet the volatility it experiences seems mostly on weekly US inventory numbers but more extraordinarily as a consequence of a bombastic and self-serving US President. Concerns about trade will continue to...
US PMI CRASHES AS TRUMP POLICY THREATENS RECESSION
In years to come it may well be called “Trumponomics”, it may well be taught in colleges too, Its effects are unclear, though most economists see them as calamitous. Now just at the wrong time for Trumponomics, it is reported that the U.S. manufacturing purchasing managers index (PMI) declined to 49.9...
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