Falling Exports and Unsold Cargoes Test Nigeria’s Oil Sector

Where Are Nigeria’s Oil Exports Going? Nigeria’s crude exports outside of the country have fallen to their lowest reading in a year, averaging 1.2 million b/d this month to date, adversely affected by an explosion at the Escravos-Lagos pipeline earlier in December. Luckily, the country’s only operational refinery – the 650,000 b/d Dangote plant – has been mopping up Nigerian grades, importing 1.7 million tonnes this month, the highest on record. Nigerian crude has been faced with extremely tepid buying demand lately…Weiter zum vollständigen Artikel bei OilPrice.com Weiter zum vollständigen Artikel bei OilPrice.com