Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,158,259 members, 7,836,183 topics. Date: Tuesday, 21 May 2024 at 10:20 PM

US Import Of Nigerian Crude Hits Three-year High- Punch - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / US Import Of Nigerian Crude Hits Three-year High- Punch (481 Views)

Buyers Reject Nigerian Crude As Glut Looms / US Import Of Nigerian Crude Hits Four-year High / US Import Of Nigerian Oil Hits 42-month High (2) (3) (4)

(1) (Reply)

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

(1) (Reply)

Ums Promotions & Services / Africa Debt, Commodities And Multilateral Institutions; An Eye Opener / My Experience At Access Bank Okada

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 7
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.