The increase in the United States’ imports of Nigerian crude oil has continued, with a record import of 9.78 million barrels in January, the latest report from the US Energy Information Administration has revealed.

Nigeria saw significant reduction in the US imports of its crude in recent years, starting from 2012, following the shale oil production boom.

The US import of Nigerian crude fell to 6.17 million in June 2013 from 10.115 million barrels in May and about 40 million barrels in March 2007.

In 2014, when global oil prices started to fall from a peak of $115 per barrel, Nigeria saw a further drop in the US imports of its crude from 87.4 million barrels in 2013 to a record low of 21.2 million barrels.

For the first time in decades, the US did not purchase any barrel of Nigerian crude in July and August 2014 and June 2015, according to the EIA data.

The US almost tripled the volume of crude oil bought from Nigeria last year, with the biggest monthly import of 8.43 million barrels in July. It imported 76.9 million barrels of Nigerian oil in 2016, up from 19.9 million barrels in 2015.

Nigeria’s crude oil and condensate production averaged 1.676 million barrels per day in March, a fall of over 200,000 bpd from the previous month, according to the Ministry of Petroleum Resources.

The ministry said the country’s oil output was 1,676,045 bpd in March, down from around 1.9 million bpd in February, but it did not provide reasons for the sharp month-on-month fall.

However, Platts quoted sources close to the matter as saying the output was down mainly due to maintenance at the Bonga field, which averaged around 150,000-200,000 bpd.

Shell said in early March that Bonga production would be shut in for about four weeks to five weeks due to turnaround maintenance and engineering upgrades at the Bonga floating, production, storage and offloading vessel.

The nation’s oil production still remains sharply below its capacity of 2.2 million bpd, with the main export grade Forcados still shut in. It plummeted to near 30-year lows of around 1.2 million bpd in May 2016 as attacks on oil facilities in the Niger Delta rose at an alarming pace due to resurgent militancy.

But the output has recovered gradually this year as militant attacks have fallen substantially since early January after the government stepped up peace talks with leaders and youths in the Niger Delta to end militancy in the region.

The Head of Energy Research, Mr. Dolapo Oni, said the decision by the government to explore negotiating opportunities with militants in the Niger Delta region against the military campaign of the past seemed to be yielding positive result.

He said, “The renewed government negotiation initiative being led by Vice-President Yemi Osinbajo has seen him frequently visiting the region in the recent past. Militant attack on facilities has also declined significantly and repair work is being carried out at accelerated pace and fear of militant attacks is subdued.

“While it is yet to be ascertained if negotiations could result in a long-time deal, we believe the measure is more reliable than the military option. Recovery in production is critical for Nigeria as the country continues to battle with economic recession and foreign exchange scarcity.”

Oni said if the disruptions in the Niger Delta region were allowed to continue, the country would likely fall short of this oil output projection of 2.2 million for 2017.

“It is, therefore, necessary for the current effort by the government to yield positive result and we believe recent developments indicate some success so far,” he added.

http://investorsking.com/us-import-nigerian-oil-hits-42-month-high/

Wailers ohhh run for ur lives. There's a new plague ohhh

Good morning Nlers, goodmorning #efenation, good morning if u can sing the national anthem, for those who can't​ and their fans they can get their good morning from Romania

Buhari sef

This early momo why una wan give wailers/haters/enemy of the States heart attack/cardiac arrest/hypotension ? Dem still dey recuperate from pension clearance, una bring this one again, wailers don suffer today... Chaiiiiiii

We are getting there.

'So what is the essence of this thread now?

Alright

Truth234:
The increase in the United States’ imports of Nigerian crude oil has continued, with a record import of

For the first time in decades, the US did not purchase any barrel of Nigerian crude in July and August 2014 and June 2015, according to the EIA data.

They tot they were dealing with GEJ then

Too long

Cool

Hi guys,

I will be roasting some meat and Chicken and i will also have plenty of drinks planned for the Easter season.
It will be a nice and exciting weekend.
If you are free and interested you can also do the same at your place.

WARRI AGAIN!!!!

*A man caught a thief at night in his kitchen at Ugborikoko area of Warri. Just when the man was going to raise the alarm,the thief said:"Do you remember what I said in the Bible?I said "I will come like a thief in the night"."I have come again. Blessed are you among men that you have stayed awake as I told you." Then the man looked at the thief, smiled and replied, "Sir, you have fallen into the hands of Pontius Pilate again!"* I will nail u tonight!!! The thief fainted.

Looking forward to the day we will begin to export refined products to the rest of the world.

If this new high is to be sustained, Buhari must come down from his high horse and talk to the boys in the creeks.

Thank God for Osinbajo and Kachikwu that have worked tirelessly for this temporary peace.

FG must also hasten to fulfil the promises recently made, including movement of oil companies' headquarters to the region.

The modular refineries regime must also commence as soon as possible. It is obvious that FG does not have the military capacity to rein in these boys.

Let them keep talking. That seems to work every time.

It is no good news when the proceeds from the sales ends up being misappropriated!

Good morning everyone....

All the blabbing about "I will fix the refineries..."

Truth234:
.

In 2014, when global oil prices started to fall from a peak of $115 per barrel, Nigeria saw a further drop in the US imports of its crude from 87.4 million barrels in 2013 to a record low of 21.2 million barrels.



http://investorsking.com/us-import-nigerian-oil-hits-42-month-high/

What we should note in the post is the highlighted text.

We from 2012 to 2014, The previous Administration had the opportunity to take Nigerians out of Poverty and grow the Foreign reserved with the oil boom. But they failed worfully. OBJ laid a super foundation for Yar adua, that's why from 2008-2010 world economic recession, Nigerians did not suffer.

All the guy needed to have done was to lay that solid foundation, then he may have won the 2015 election.

Simple Logic.

Ambode may be looting Lagos or pretending, but with what he has done from May 2015 to April, 2017 he has the second term ticket already.

That's how to play politics. Convince the people you're leading that you have what it takes to deliver.

Many of us are complaining now, shouting and crying due to the sufferings in the land, but truth is that there's no viable opposition at all.

Yes Buhari has disappointed many us that staked our lives to support him, but truth is, if another election holds today 6/4/2017 Buhari would still win, cos there's no alternative. PDP is dead and Atiku, Elrufai etc are no better than buhari.

That's the bitter truth

Nice one

Good news, hope the common man enjoys the benefit.

Xcuses and blame game shld cease now. Let us see the change already I beg.

Pavore9:
It is no good news when the proceeds from the sales ends up being misappropriated!

By Deziani?

That time don pass

mtchew!

Oriire nla gidi ni o.

Why this confusion naa?

Few weeks ago Sebi dem say America don ignore our oil?

Nigeria journalism is wack. I thought they said US stopped buying Nigeria oil and that is what is affecting our economy.

Omo ti ah kor ni yio gbe ile ti ako tah.
.

Ile ti o ba n toro omo ale ibe ni ko ti dagba ipob

Welcome development

How much is the dollar to the Naira.

Fonereporters:


They tot they were dealing with GEJ then

U guys said Nigeria do not depend entirely on oil