- My Forums
- Tiger Rant
- LSU Score Board
- LSU Recruiting
- SEC Rant
- SEC Score Board
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
First Niger Oil Bound for China Blocked in West Africa Border Dispute
Posted on 5/9/24 at 1:26 pm
Posted on 5/9/24 at 1:26 pm
quote:
The West African nation of Benin has blocked China’s first shipment of crude oil from Niger amid an ongoing border dispute with Niger following a coup that has put a military junta in power and shaken relations with other African nations.
China’s first imports of crude oil from Niger’s military junta arrived in Benin in three vessels but were prevented by the authorities from docking at the port.
“If you want to load your oil in our waters, you can’t view Benin as an enemy and at the same time expect your oil to cross our territory,” Benin’s President, Patrice Talon said in a statement carried by Business Insider Africa. “We’re open to working with Niger. They’re the ones that refused to allow trucks to cross.”
The oil bound for China was part of a $400-million commodity-backed loan from China National Petroleum Corp, which Niger’s military junta agreed to at a 7% interest rate and repayment in oil for a period of 12 months, as reported by Bloomberg. Additionally, CNPC has invested some $4.6 billion in Niger’s oil industry, including the construction of a 1,200-mile pipeline transporting crude oil from Niger to Benin. The pipeline was set to begin shipping 90,000 bpd in May and up to 110,000 bpd at full capacity.
The deal has been disrupted by the coup in Niger last July in which the military junta seized power and closed its land border with Benin, which in turn slapped sanctions on Niger. Those sanctions have been lifted; however, Niger has kept the land border with Benin closed, and the latest oil shipment bound for China is now a bargaining chip. As of the time of writing, Niger’s junta has not responded to Benin’s statements.
LINK
We’re going to see more and more of this, I think, as these developing countries start trying to get into the oil production and export game in order to improve conditions within their borders. See the Venezuela and Guyana dispute.
Though I can’t say I’m heartbroken to see China hit a few roadblocks to gaining more oil imports.
Posted on 5/9/24 at 1:27 pm to ragincajun03
I read this wrong at first
Posted on 5/9/24 at 1:28 pm to ragincajun03
7 bans 20 pms
Posted on 5/9/24 at 1:29 pm to ragincajun03
Niger please
Posted on 5/9/24 at 1:29 pm to ragincajun03
Dave Chappelle will have a field day with this.
Posted on 5/9/24 at 1:32 pm to ragincajun03
quote:
“If you want to load your oil in our waters, you can’t view Benin as an enemy and at the same time expect your oil to cross our territory,”
I can't say he is wrong.
Posted on 5/9/24 at 2:11 pm to ragincajun03
quote:
LINK
We’re going to see more and more of this, I think, as these developing countries start trying to get into the oil production and export game in order to improve conditions within their borders. See the Venezuela and Guyana dispute.
Though I can’t say I’m heartbroken to see China hit a few roadblocks to gaining more oil imports.
China plays checkers
US plays chess.
That isnt the only location they will have trouble moving oil either. Let them buy up all the land they want. Create pen to paper laws and educate the locals.
Posted on 5/9/24 at 2:24 pm to ragincajun03
quote:
part of a $400-million commodity-backed loan from China National Petroleum Cor
China will own Niger in a couple years
Posted on 5/9/24 at 2:30 pm to ragincajun03
quote:
See the Venezuela and Guyana dispute
I do agree with you overall, but these 2 situations are vastly different. Benin wants Niger to open its border to trade. Meanwhile, Benin is Niger's only path to get their oil to the market. Benin holds most of the cards in that situation.
Venezuela is just trying to be a bully and steal a big chuck of land from Guyana. They are jealous because Guyana figured out how to capitalize on their huge oil reserves, and are raking in money.
Posted on 5/9/24 at 2:35 pm to ragincajun03
Is that oil used in making Brazil nut butter?
Posted on 5/9/24 at 3:23 pm to ragincajun03
Niger's ben, benin them over for years
Posted on 5/9/24 at 3:26 pm to ragincajun03
quote:
First Niger Oil Bound for China
Posted on 5/9/24 at 3:33 pm to ragincajun03
Missiles inbound to Niger in 3..2..1….
Posted on 5/9/24 at 3:43 pm to ragincajun03
Been hearing a lot about Niger lately.
Posted on 5/9/24 at 3:47 pm to ragincajun03
Benin >>> Niger
Posted on 5/9/24 at 4:12 pm to ragincajun03
Niger please!
Open the border.
Open the border.
Posted on 5/9/24 at 4:15 pm to ragincajun03
quote:
in order to improve conditions within their borders.
Hahaha that’s a good one
Posted on 5/9/24 at 4:30 pm to ragincajun03
So are my O&G stonks staaaaaaacked?
Popular
Back to top
Follow TigerDroppings for LSU Football News