But
seriously, did president Jonathan really thought that his blue eyed
girl DAM, who was recently accused of corruption could be considered by
OPEC as it's secretary General?
.....Well, I heard they bounced her!
#Bringbackourmissingdollars!
#Butfirstbringbackourgirls!
.....Well, I heard they bounced her!
#Bringbackourmissingdollars!
#Butfirstbringbackourgirls!
- 16 people like this.
Thomas Ramseyer Nigeria must leave the OPEC. Nigeria's oil Bonny light has a quality like Brent. This is why Bonny light is always traded at Brent prices. Saudi Arabia and a lot of other Arab countries produce a crude which never reaches Nigerian Bonny light's quality. When manipulating the price spread with Bonny light trading substantially 10 to 20% above West texas intermediate (WTI) Nigeria was not really able to sell Bonny light in masses. £
This maybe the reason as to why billions of USD have vanished during the last 5 years. Maybe they sold and charged for 100% while loading 120%. 10% because of the price spread 10% meant for a nice kickback. Kicked back somewhere on foreign countries in USD denominated accounts. This was what Sanusi might have been asking for before he got sacked by the president.
Also fixing shares for all opec-members is meant to prevent other countries than SaudiAraibia from delivering their oil. It is all about money. And when it comes to money, a lot of people are ruthless... they egocentrically do not care about anybody else than themselves...
Nigeria must leave the OPEC and trade Bonny light on its own commodity exchange at Abuja. Nigeria MUST fix her oil price by themselves in their own country.
I always asked myself as to why Nigerian oil surfaced in Nigeria is traded wayoff Nigerian soil. Why the Americans or Londoners let fix the price of WTI as well as Brent. (By the way Brent is about to run out. They have exploited almost all. In Scotland they have ceased down the upstream business because of lack of oil leaving the oil-people without jobs. There are some Nigerians which have acquired a lot of knowledge in the UK; they should come back to Nigeria to build up the business in their fatherland.
Why Nigerian government let dance foreign commodity traders right on their noses, why not taking back the initiative and fix bonny light's prices on Nigerian soil??? Like this the prices can be fixed according to the needs of Nigeria. Bonny Light has nothing to do with Brent but for its quality. For heating oil purposes Bonny light must almost not be refined. This means it can also be used as fuel for diesel engines.... No need to transport Bonny light to the US-refineries and back to Nigeria. Oil producers and refiners will be in the position to confirm what I just stated.
The price fixings abroad are meant to control Nigeria's oil output, export and thus her inflow of foreign currency reserves abroadl
