Global Markets: Oil Traders Said to Mull Nigerian Proposal to Prolong Fuels Swap

Global Markets: Oil Traders Said to Mull Nigerian Proposal to Prolong Fuels Swap

(Bloomberg) — At least five oil consortiums said they were considering a proposal from the state-run Nigeria National Petroleum Corp. to prolong a crude-for-fuels swap program until the middle of next year, people familiar with the matter said.

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Africa Oil & Gas: Congo seeks relief talks with oil traders over $2bn debt

Congo Republic is set to become the latest African country to start debt relief talks with trading houses after borrowing $2-billion from merchants such as Trafigura and Glencore but now finding its debt levels unsustainable, sources familiar with the matter said.

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Global Oil & Gas Market: “Don’t Rule Out OPEC Cut,” Say Top Oil Traders

Forget conspiracy theories and be prepared for OPEC to cut output in November because this is what they need to do and have done in the past, veteran oil traders who run and co-own some of the world’s biggest trading firms told the Reuters Commodities Summit.

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