18 May 2017

Nigeria: U.S Increases Import of Nigerian Crude

US crude imports from Nigeria rose by 13.6 per cent to 325,000 barrels per day from 286,000 b/d the most since March, preliminary data released by the US Energy Information Administration (EIA) for week ended May 12, has shown.

The increase came despite the threat of a potential rise in shale oil production on the back of the rally in global oil prices, as energy companies ramped up drilling.

The EIA data showed that although Nigeria remained US highest crude exporter in Africa, exports from Angola to US witnessed the highest increase at 42.8 per cent from 63,000 b/d to 90,000 b/d.

Overall, crude imports from Saudi Arabia rose the highest at 42 per cent to 1.38 million b/d from 970,000 b/d.

Meanwhile, the US government has commended Nigeria for the significant steps it has taken to reform the oil and gas industry through the National Oil, Gas and Fiscal policies as well as the draft Petroleum Industry Governance Bill and Petroleum Industry Fiscal Bill developed by the Ministry of Petroleum Resources.

Nigeria

Sacked Lawmakers Fail to Refund N61 Million to National Assembly

Nigerian lawmakers recently sacked by the Supreme Court and asked to refund all salaries and allowances received thus… Read more »

Copyright © 2017 Daily Trust. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 900 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.