logo
LPG IN NIGERIA - Get LPG Daily Price Updates and LPG industry related information
MIMMAK - Purchase Brand New LPG Tanks
logo
LPG IN NIGERIA - Get LPG Daily Price Updates and LPG industry related information
MIMMAK - Purchase Brand New LPG Tanks

Report/Analysis

...
Weekly Mont, Belvieu Propane-Butane prices, September 9th 2022

Our assessment for last week's daily Mont Belvieu propane and butane in USD/mt (4.3% and 5.4% down respectively on weekly average):
5th September: Bank holiday
6th September: 569.2; 540.5
7th September: 554.9; 524.3
8th September: 547.1; 511.0
9th September: 543.8; 502.1
LPG Butane prices moved significantly downwards to close at 502/1 USD/MT - the lowest since June 8th, 2021; when it closed at 500.6 USD/MT. The trend has followed the bearish momentum of oil prices. We may see Butane prices break the 500 USD mark in the coming week. Propane prices too although higher closed significantly lower than they did in the previous week - closing at 543.8 USD/MT against the previous week's close of 570.3
The global energy market remains uncertain, with many factors that could push prices back up lingering in the background. Reasons for the fall in prices are mainly; demand destruction; customers shifting to other fuels and reduced demand as a result of high prices. Also, the Chinese COVID-induced lockdowns persist which is a significant source of demand cuts. Factors that could drive prices back up remain sudden weather changes and the coming winter.
On the local side, prices didn't change much at different depot locations; prices remained the same with the lowest prices in Apapa ( 12.1 Million per 20MT) and the highest prices in Oghara ( 12.6 Million per 20MT).
We expect prices to go lower if international prices stay at the September 9th price or lower.
The retail prices from the LPG plants, also remained unchanged; ranging from about N9, 000 to N10,000.00 per 12.5kg cylinder across the country.

LPG Nigeria
...
Weekly Mont, Belvieu Propane-Butane prices, August 30th 2022

Our assessment for last week's daily Mont Belvieu propane and butane in USD/mt (0.1% and 0.5% up respectively on weekly average):
15th August: 556,5; 543,9
16th August: 554,2; 537,9
17th August: 554,9; 539,4
18th August: 568,9; 546,0
19th August: 573,8; 558,3
Our assessment for last week's daily Mont Belvieu propane and butane in USD/mt (3.6% and 2.2% up respectively on weekly average):
22nd August: 571.5; 552.9
23rd August: 582.9; 566.0
24th August: 588.1; 562.3
25th August: 584.5; 552.9
26th August: 582.9; 551.0
This report is based on a 2-week assessment period. Within the two weeks, Butane prices hovered along the lowest points touching areas under 540 USD, and closed lower than the close on the 12th of August, closing at 551 USD/MT against 552.2 USD/MT two weeks ago.
International Gas prices are still highest in Europe - the direction of price could move downwards, as industries and governments embrace Energy sources hitherto regarded as 'dirty', the likes of Coal for instance and the renewed move towards Nuclear energy.
Local prices began a gradual dip 2 weeks ago and this has been sustained despite the renewed upward swing in the USD/Naira exchange rate.
We expect prices to remain in this range or lower if international prices of Butane continue to range as it has done in the past weeks.
The retail prices from the LPG plants, also remained unchanged ranging from about N9, 000 to N10,000.00 per 12.5kg cylinder across the country.

LPG Nigeria

Blog/Article

Shafa Energy Receives First Cargo

Shafa Energy, a leading Oil and Gas product marketing and distribution company with Depot in Warri, Delta state has finally received their first LPG cargo on the 31st of August 2022.
The cargo size was 41OO MT. LPG Offtakers may now proceed to the depot which is directly opposite the Matrix Energy depot in Warri.
The commissioning of the Shafa Energy depot further helps to ensure availability of LPG in the South South region and by Extension South - East. Hence reducing the occurence of scarcity in the region.
Shafa Energy has LPG plants at strategic locations for their Retail business and also provide transportation services for delivery on behalf of their customers nationwide.

Tags - lpg, lpgdepot, shafa Energy, cookinggas, warri,matrixenergy, scarcity

We will gladly appreciate your feedbacks on how we can serve you better
info@lpginnigeria.com
+234 904 757 4454