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How the oil price plunge affects African companies | DW News

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Newest video updates about Coronavirus. Have a take a look at this “How the oil price plunge affects African companies | DW News” video under:


COVID-19 has seen oil costs collapse due to a world droop in demand. Oanda is certainly one of Nigeria’s greatest native oil and fuel companies, producing 43 000 barrel a day. The firm is price over $ 1 billion with a market cap of $ 300 million. COO Alex Irune shares his views with DW on how the COVID-19 pandemic is impacting the Nigerian oil sector.
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23 Comments

  1. Guitarontheflipside

    May 9, 2020 at 12:14 am

    No demand for oil?? I feel bad for the workers, but earth is smiling..

  2. Michael Heider

    May 9, 2020 at 12:14 am

    His office looks like its inside a palace. Nigeria is one of the biggest criminals when it comes to stealing from there people.

  3. Cody Ham

    May 9, 2020 at 12:14 am

    Alex Irune, I suggest at this God-given time, you and your colleague can concentrate on building Nigeria's First Public Housing Units (NPC) right on Makoko to give back to your community.

  4. Tufail Umar

    May 9, 2020 at 12:14 am

    This is temporary and we gonna be back in business soon. Let us unite now after this pandemic is over to help those poor, underdeveloped and developing nations deal with their economic problems for the collective good of this one planet earth.

  5. Anton Gavutti

    May 9, 2020 at 12:14 am

    You peoples are fool.
    The Oil Industrial Complex can wait, the infrastructure of oil industry are not been ravaged. They know the Human are hungry for Oil.

  6. kukul roukul

    May 9, 2020 at 12:14 am

    Xi Jing Ping and Putin never redraws their words. THATS A PROBLEM ! that means zero communication , zero cooperation whatsoever

  7. Vib Biv

    May 9, 2020 at 12:14 am

    Stick to EU issues. Leave Africa alone!!!

  8. Yellowbeard

    May 9, 2020 at 12:14 am

    Just switching to electric cars could make the difference for our planet.
    Oil producers better not get caught with their thumbs up there butts.
    It will be too late, the starting gun has already sounded and they just drag there feet

  9. prilep5

    May 9, 2020 at 12:14 am

    Oil for China should be pricier and with limit

  10. bo duke

    May 9, 2020 at 12:14 am

    diversify now oil is done it makes things worse relying on it

  11. king Poring

    May 9, 2020 at 12:14 am

    Lets hope scientist can make dinosaur meat from crude oil

  12. Vik Z

    May 9, 2020 at 12:14 am

    Unless Nigeria ramps up covid testing soon it won't have people to rebuild its oil industry post-covid.

  13. Derek Wilson

    May 9, 2020 at 12:14 am

    You can talk vaccine till the sun goes down , I will not take it and neither should any of you watching this !

  14. Derek Wilson

    May 9, 2020 at 12:14 am

    All oil companies have had a great time with oil profits so now put some of that money back to the ppl who made you those profits and you should be made to do it !!!

  15. Mosali Mansa

    May 9, 2020 at 12:14 am

    Afrika doesn't have its own paradigm. Dependency is the bane of Afrika!

  16. Kenz300 x

    May 9, 2020 at 12:14 am

    Fossil fuels are a bad investment.
    Wind and solar energy and electric vehicles are the future.
    We have a corona virus crisis and a climate crisis. We need to address both.

  17. Michael Wilson

    May 9, 2020 at 12:14 am

    I love it!! Im flying down the freeway at 110 easy. No traffic, no slow drivers=no accidents, deaths.

  18. david sharpless

    May 9, 2020 at 12:14 am

    Nigeria has some of the highest prices of gasoline in the world and some of the biggest oil reserve. If you look up corruption in the dictionary you will see a picture of Nigeria. Hanging on to sell oil higher instead of giving to your own people will only hurt yourself. Fools.

  19. Andrew Mc Farlane

    May 9, 2020 at 12:14 am

    Only futures was affected to going negative. Get the news straight

  20. Ossie Weinert

    May 9, 2020 at 12:14 am

    And the skies are clearing! Perfect time to say goodbye to oil and go fully to solar and wind. In the battle between capitalism and Mother Nature, Nature will win in the end!

  21. B

    May 9, 2020 at 12:14 am

    For us its not cheap.we pay Rs.71 per litre

  22. Fly Vegan

    May 9, 2020 at 12:14 am

    End oil industry > legalise hemp > use hemp bio fuel and hemp bio plastic > save earth ?

  23. VCN-media

    May 9, 2020 at 12:14 am

    Renewable energy takes over the Oil sector very soon while it's better for Nigerian government to diversify asap or the country remains the world HEADQUARTERS of people living in extreme POVERTY for a long time.

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