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Breaking: Venezuela Stops Importing Nigerian Oil by Ifeanyismigel(m): 12:50pm On Feb 04, 2016 |
Source: CNN Breaking News A ship carrying half a million barrels of oil that was pumped in the U.S. docked at a terminal owned by Venezuela last week, according to oil data research firm Clipper Data. The shipment was sent to a facility located on the Dutch island of Curacao in the Caribbean. The fact that Venezuela is importing American oil is raising eyebrows because Venezuela has 298 billion barrels of proven oil reserves, according to the Energy Information Administration. That's more than Saudi Arabia, Russia or Iran and eight times the reserves of the United States. But the oil extracted in Venezuela is very heavy and hard to refine and then sell to other countries. Venezuela needs to first mix its heavy oil with lighter types of crude to balance out the quality, according to Nilofar Saidi, an oil market analyst at Clipper Data. Saidi said Venezuela had already been importing lighter types of crude oil from Russia, Angola and Nigeria. Read More Here: http://owelliamaka..com.ng/2016/02/breaking-venezuela-stops-importing.html
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Re: Breaking: Venezuela Stops Importing Nigerian Oil by Ifeanyismigel(m): 2:44pm On Feb 04, 2016 |
Nigeria my country! |
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