Brazil now highest buyer of Nigeria’s crude
Brazil has overtaken India as the largest buyer of Nigeria’s crude oil, spending $990.09 million, about N158.414 billion on the purchase of crude oil from Nigeria.
Crude oil Data from the Nigerian National Petroleum Corporation, on activities in the oil and gas sector for March 2014, disclosed that Brazil purchased 9.442 million barrels of crude oil from Nigeria in the month under review.
India, purchased 8.56 million barrels of crude oil from Nigeria, estimated at $897.71 million, about N143.633 billion, using a crude price of $104.86 per barrel.
The Netherlands spent $825.56 million, about N7.873 billion on the purchase of 7.873 million barrels.
Spain with the purchase of 6.638 million barrels of crude oil, estimated at $696.061 million, about N111.37 billion.
France purchased 4.015 million barrels.
United Stated of America imported 3.892 million barrels, while Indonesia purchased 3.89 million barrels.
South Africa 2.897 million barrels.
Germany 1.985 million barrels.
Cote D’Ivoire, imported 1.62 million barrels
NNPC revealed that Nigeria earned $6.561 billion, about N1.05 trillion from the export of 62.566 million barrels of crude oil in the month of March.
Europe was the highest buyer of Nigeria’s crude, with the importation of 26.57 million barrels.
Asia and the Far East followed with the purchase of 15.3 million barrels.
South America imported 10.39 million barrels.
Other African countries purchased 4.454 million barrels.
North America and 3.89 million barrels.
Oceania/Pacific countries 961,105 barrels
Nigerian National Petroleum Corporation (NNPC) said, “Total crude oil and condensates lifting for both domestic and export were about 64.60 million barrels. Oil companies lifted about 35.59 million barrels, representing 55.09 per cent, while NNPC lifted 29.01 million barrels, representing 44.91 per cent of the total. “Lifting by fiscal regime shows 33.61, 28.22, and 2.77 million barrels for JVC, PSC/SC, and Others respectively. Out of NNPC’s lifting, 24.29 million barrels was for Federation Account, while 4.72 million barrels was for domestic use.”