Indian Oil Corp. bought a total 5.0 million barrels of sweet crude in its tenders for July and August loading, including its first purchase of the new Nigerian Agbami grade. For full story, click here
Barrel prices nosed upward of $115 on Monday, largely due to a sagging US dollar. Analyzing this in reference to last week’s barrel and dollar prices shows the extent to which crude is tied to currency differentials. The relationship is not one sided, either. For us Canadians, high oil prices are keeping our dollar near parity with that of our neighbours.
Business day reported that the first export of oil from Nigeria’s Agbami field of Chevron, will take place this week. For more information, click here
Chevron Corporation reported its Nigerian affiliate, Star Deep Water Petroleum Ltd, has started crude oil production from the Agbami Field. For full news, click here
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