Nigeria’s crude oil export to US declines by 91%
Five regions namely; North America, Europe, Africa, South America, and Asia remain the major destinations of Nigerian crude and condensate export.
Nigerian National Petroleum Corporation’s, December 2013 Petroleum Information, disclosed that Nigeria exported 1.438 million barrels of crude oil to North America as at December 2013, down by 15.111 million barrels in December 2012. North America accounted for 22.19 per cent of Nigeria’s total crude export at this time, but it dropped to 2.23 per cent by December 2013.
The US was the highest buyer of Nigeria’s crude, purchasing 14.279 million barrels in December 2012, thereby, accounting for 19.15 per cent of Nigeria’s total crude export and 86.28 per cent of total crude export to North America. By 2013 end, the US dropped to the 10th highest importer of Nigeria’s crude, with 1.438 million barrels.
The NNPC report stated that by December 2013, Europe was the highest importer of Nigeria’s crude, accounting for 47 per cent of Nigeria’s total export; followed by Asia and Far East, accounting for 26 per cent; while Africa accounted for 12 per cent of Nigeria’s crude export.
South America accounted for 10 per cent of Nigeria’s total crude export, while Oceania/Pacific and North America accounted for three per cent and two per cent respectively.
India emerged the highest importer of Nigeria’s crude in December 2013, with 13.086 million barrels, followed by the Netherlands with 9.866 million barrels, and France4.497 million barrels.
Nigeria exported 4.869 million barrels of crude to Brazil in the period under review; Spain 4.6 million barrels, while 3.895 million barrels of crude oil was exported to South Africa.
Others are Cote D’Ivoire 1.898 million barrels; Thailand 1.897 million barrels, and Australia 1.862 million barrels. More