Nigeria has lowered the export price for all grades of oil

MOSCOW, 20 Oct — RIA Novosti/Prime. State-owned national oil Corporation of Nigeria (Nigerian National Petroleum Corporation, NNPC) has lowered the price of all varieties exported oil, according to Bloomberg.

According to the price lists, official selling price, for 20 out of 26 grades of oil, the cost of which monitors the Agency were reduced by at least 1 dollar per barrel. The price of “black gold” Qua Cameroon as was reduced the most since 2014. In normal circumstances, Qua Cameroon as is the main variety exported oil in Nigeria, the Agency said.

The decline in prices is caused by “huge excess reserves,” said the Agency CEO division oil marketing in NNPC Chiari Mele (Mele Kyari). He also noted that Nigeria is seeking to regain its market share.

The difference between the November sales prices of crude oil and Qua Cameroon as crude oil Dated Brent was up 17 cents previously, she was at the level of 1.07 dollar. The difference between the price of raw materials of mark Bonny Light and Dated Brent is now 7 cents. “Black gold” brand Forcados for sale at a discount of 41 cents relative to Dated Brent, says the Agency.

Earlier this week, Chiari said that five companies, which are engaged in the implementation of the Nigerian oil, raised the issue of excessively high official selling prices of raw materials, says the Agency. On Thursday, he said the price reduction was not associated with these complaints.