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Nairaland Forum / Nairaland / General / Business / US Import Of Nigerian Crude Hits Three-year High- Punch (480 Views)
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US Import Of Nigerian Crude Hits Three-year High- Punch by adioolayi(m): 7:19am On Mar 24, 2016 |
Imports of Nigerian crude by the United States last week jumped to
559,000 barrels per day, a weekly record going back to mid-2013.
The rise comes as refining firms turned to imports of West African
crude that had previously been displaced by domestic grades during
the US shale boom.
Nigeria was the fourth largest supplier of foreign crude to the US
last week, displacing Mexico and also competing with Iraq and
Colombia, according to preliminary figures from the Energy
Information Administration, the statistical arm of the US Department
of Energy, Reuters reported.
Of the 11 cargos of Nigerian crude that arrived in the US this month,
eight went to the East Coast, while the remainder were sent to the
US Gulf Coast, according to Thomson Reuters Trade Flows data.
Along with typical cargos of Nigeria’s Qua Iboe, Bonga and
Forcados, two 500,000-barrel cargos of Usan medium crude were
delivered to Royal Dutch Shell at South Louisiana Port, marking the
first time since May 2014 that this crude has entered the US.
From 2004 to 2007, Nigeria exported over one million bpd to the US,
but a surge of US domestic production that is of similar quality,
including shale oil, later forced African light sweet crude producers,
especially Nigeria, to find new destinations for their
exports. http://www.punchng.com/us-import-of-nigerian-crude-hits-three-year-high/ |
Re: US Import Of Nigerian Crude Hits Three-year High- Punch by delishpot: 7:38am On Mar 24, 2016 |
I am sure USA is also storing some crude for future use when there will be genuine scarcity some day. Does Nigeria do same? Abi are we the provabial food seller who sold all the food in her basin including the one her own childrens dinner? |
Re: US Import Of Nigerian Crude Hits Three-year High- Punch by afolayangs(m): 9:28am On Mar 24, 2016 |
thank you jesus |
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