The Nigerian National Petroleum Corporation is relocating its oil trading subsidiary to Dubai from London, United Kingdom, according to Reuters.Duke Oil Services, the London arm of the Panamanian registered firm, said in a filing made to the UK’s company house that it would wind down operations in the second quarter of 2019 and move to an unspecified location.
The choice of Dubai comes as the United States began pumping 12m barrels of oil per day, claiming Nigeria’s markets in Europe and competing with the West African producer in Asia as well.
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