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US Buys $2.7bn Nigerian Crude In Six Months - Business - Nairaland

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Buyers Reject Nigerian Crude As Glut Looms / Portugal, Others Buy Nigerian Crude Oil First Time / India Seeks To Import 11m Metric Tonnes Of Nigerian Crude In 2017 (2) (3) (4)

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US Buys $2.7bn Nigerian Crude In Six Months by Truth234(m): 4:24am On Oct 03, 2017
The import of Nigeria’s crude oil by the United States increased by 32.1 per cent to 52.36 million barrels in the first half of this year, compared to the same period in 2016.

The US Energy Information Administration, the statistical arm of the Energy Department, revealed in its latest data that the country bought a record 10.24 million barrels from Nigeria in March, the highest monthly import since July 2013.

It imported 9.78 million barrels in January; 5.96 million barrels in February; 9.16 million barrels in April; 8.69 million barrels in May and 8.53 million barrels in June.

With Bonny Light, Nigeria’s main export grade, averaging $51 per barrel in the first half of the year, the 52.36 million barrels imported by the US translate to an income of about $2.67bn for the country.

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 Nigeria’s oil in 2016, up from 19.9 million barrels in 2015.

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 Nigeria’s 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 Nigeria’s crude in July and August 2014 and June 2015, according to the EIA data.

Meanwhile, Reuters reported on Monday that a handful of cargoes had traded in November so far though October cargoes of Angolan and Nigerian were still lingering as demand for that month had slowed due to limited arbitrage and stronger outright prices.

There was still no sign of the Nigerian Bonny Light or Erha loading programmes for November. Bonny Light exports were still under force majeure but are expected to resume later this week as repairs on a pipeline are nearly finished.

ExxonMobil sold a cargo of Qua Iboe loading November 27-28 and a November loading cargo of Yoho, one trader said, without giving further details.

http://investorsking.com/us-buys-2-7bn-nigerian-crude-six-months/

1 Like 2 Shares

Re: US Buys $2.7bn Nigerian Crude In Six Months by okonja(m): 8:01am On Oct 03, 2017
Where are all those facilitators that goes around with fake SPA and POP... undecided


Meanwhile
If you need reassignment of allocation, it's very much available BUT if you need a fresh allocation direct from FG, you need to wait till next year as Baba will not sign any allocation approval again for this year cool
Re: US Buys $2.7bn Nigerian Crude In Six Months by mrvitalis(m): 8:02am On Oct 03, 2017
We need better forex inflow into this country

Honestly our revenue is a joke we would never make any meaningful progress with this

3 Likes 1 Share

Re: US Buys $2.7bn Nigerian Crude In Six Months by kirikiri100: 8:02am On Oct 03, 2017
Where's the money?

11 Likes 1 Share

Re: US Buys $2.7bn Nigerian Crude In Six Months by veekid(m): 8:02am On Oct 03, 2017
And we're still in recession

1 Like

Re: US Buys $2.7bn Nigerian Crude In Six Months by JoshMedia: 8:02am On Oct 03, 2017
Nigeria my country


Abegi
Check my signature jare
Re: US Buys $2.7bn Nigerian Crude In Six Months by Nobody: 8:02am On Oct 03, 2017
It isn't good news......until we hear that US bought 1Million units of Innoson cars, and several million tonnes of Dangote Cement.

2 Likes

Re: US Buys $2.7bn Nigerian Crude In Six Months by cometozizo(m): 8:03am On Oct 03, 2017
Very nice ftc
Re: US Buys $2.7bn Nigerian Crude In Six Months by magoo10(m): 8:03am On Oct 03, 2017
$2.7billion is no small money,yet we don't see what the clueless ones use these monies on,when you hear them blaming the previous govt for the present recession you would think that they have not realised any money at all.

It is on record that the buhari govt have squandered over 15trillion naira within 2 years in office and nothing tangible to show.

18 Likes 3 Shares

Re: US Buys $2.7bn Nigerian Crude In Six Months by capatainrambo: 8:03am On Oct 03, 2017
apc will still steal evry dime




usless people. buharis body odour did not stop babachair from stealing




sooooooo

2 Likes

Re: US Buys $2.7bn Nigerian Crude In Six Months by magoo10(m): 8:05am On Oct 03, 2017
$2.7billion is no small money,yet we don't see what the clueless ones use these monies on,when you hear them blaming the previous govt for the present recession you would think that they have not realised any money at all.

It is on record that the buhari govt have squandered over 15trillion naira within 2 years in office and nothing tangible to show.

3 Likes

Re: US Buys $2.7bn Nigerian Crude In Six Months by shedy03(m): 8:05am On Oct 03, 2017
kirikiri100:
Where's the money?
I wonder o. no ongoing projects, salaries hardly paid, etc.

2 Likes

Re: US Buys $2.7bn Nigerian Crude In Six Months by Realdeals(m): 8:09am On Oct 03, 2017
There has been quietness in the creek, what is responsible for that?
Re: US Buys $2.7bn Nigerian Crude In Six Months by DrChukzy(m): 8:14am On Oct 03, 2017
Where is the money? Of what benefit is it to ordinary citizens?

1 Like

Re: US Buys $2.7bn Nigerian Crude In Six Months by twilliamx: 8:14am On Oct 03, 2017
Nice: if people like let them deny that this is one of the most serious government we have ever had.
Re: US Buys $2.7bn Nigerian Crude In Six Months by holatin(m): 8:14am On Oct 03, 2017
business relation is good between the good country, dat is all that matters.
even though some people say trump and USA don't want to have anything to do with buhari and Nigerian.

but where all the trillion goes to is my concern, corruption has eaten so deep into Nigeria bone and marrow only a good military ruler in a military regime can end corruption in Nigeria becus 98.9 of our senator breed, sneeze, poo, eat, sex, Bleep corruption every seconds of the day.

1 Like

Re: US Buys $2.7bn Nigerian Crude In Six Months by Akinz0126(m): 8:15am On Oct 03, 2017
As for the goons asking for the money una need lai Muhammed to tell una say the money is in the TSA ni?buh let me ask amadioha I tyink dem don siddon ontop the money 2019 election by the corner anyway
Re: US Buys $2.7bn Nigerian Crude In Six Months by twilliamx: 8:15am On Oct 03, 2017
DrChukzy:
Where is the money? Of what benefit is it to ordinary citizens?

Everything is a ripple effect. You need to be patient

1 Like

Re: US Buys $2.7bn Nigerian Crude In Six Months by cstr1000: 8:17am On Oct 03, 2017
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Re: US Buys $2.7bn Nigerian Crude In Six Months by cstr1000: 8:18am On Oct 03, 2017
twilliamx:


Everything is a ripple effect. You need to be patient
Almost 3 years. Election is in 2019.
Re: US Buys $2.7bn Nigerian Crude In Six Months by dhakingpin(m): 8:18am On Oct 03, 2017
Realdeals:
There has been quietness in the creek, what is responsible for that?

are you serious at all? what are you insinuating? Nigeria paid 2b dollars to the creeks? confused human being
Re: US Buys $2.7bn Nigerian Crude In Six Months by Sunmolar(m): 8:19am On Oct 03, 2017
for how long will crude be the mainstay of our economy?
Re: US Buys $2.7bn Nigerian Crude In Six Months by baski92(m): 8:25am On Oct 03, 2017
Where the money dey

Re: US Buys $2.7bn Nigerian Crude In Six Months by Greenbuoy(m): 8:26am On Oct 03, 2017
Dem don use the whole money dance python dance... Shior!!
Re: US Buys $2.7bn Nigerian Crude In Six Months by felixomor: 8:31am On Oct 03, 2017
Where is the money?
Or they will keep giving excuses?
Re: US Buys $2.7bn Nigerian Crude In Six Months by billyG(m): 8:32am On Oct 03, 2017
Truth234:
The import of Nigeria’s crude oil by the United States increased by 32.1 per cent to 52.36 million barrels in the first half of this year, compared to the same period in 2016.

The US Energy Information Administration, the statistical arm of the Energy Department, revealed in its latest data that the country bought a record 10.24 million barrels from Nigeria in March, the highest monthly import since July 2013.

It imported 9.78 million barrels in January; 5.96 million barrels in February; 9.16 million barrels in April; 8.69 million barrels in May and 8.53 million barrels in June.

With Bonny Light, Nigeria’s main export grade, averaging $51 per barrel in the first half of the year, the 52.36 million barrels imported by the US translate to an income of about $2.67bn for the country.

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 Nigeria’s oil in 2016, up from 19.9 million barrels in 2015.

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 Nigeria’s 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 Nigeria’s crude in July and August 2014 and June 2015, according to the EIA data.

Meanwhile, Reuters reported on Monday that a handful of cargoes had traded in November so far though October cargoes of Angolan and Nigerian were still lingering as demand for that month had slowed due to limited arbitrage and stronger outright prices.

There was still no sign of the Nigerian Bonny Light or Erha loading programmes for November. Bonny Light exports were still under force majeure but are expected to resume later this week as repairs on a pipeline are nearly finished.

ExxonMobil sold a cargo of Qua Iboe loading November 27-28 and a November loading cargo of Yoho, one trader said, without giving further details.

http://investorsking.com/us-buys-2-7bn-nigerian-crude-six-months/
That u pmb yo trip to uncle sam country is yielding results.
Re: US Buys $2.7bn Nigerian Crude In Six Months by lajuto: 8:48am On Oct 03, 2017
.
Re: US Buys $2.7bn Nigerian Crude In Six Months by tyga123: 8:58am On Oct 03, 2017
Buhari just they travel with awa moni
Re: US Buys $2.7bn Nigerian Crude In Six Months by Ladyjumong(f): 8:58am On Oct 03, 2017
so where is all this money going into
sarrki, omenka can any of u two explain this ?
Re: US Buys $2.7bn Nigerian Crude In Six Months by AFONJAPIG(f): 9:08am On Oct 03, 2017
and where is the money
Re: US Buys $2.7bn Nigerian Crude In Six Months by martineverest(m): 9:16am On Oct 03, 2017
veekid:
And we're still in recession
are u in caves?
Re: US Buys $2.7bn Nigerian Crude In Six Months by SalamRushdie: 9:18am On Oct 03, 2017
Many Nigerian don't know Obama stopped the US from buying our fuel out of sheer wickedness yet the still support him ignorantly

2 Likes 1 Share

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