India has taken over from the US as the largest importer of Nigerian oil, the West African state's national oil company has said.
The US has "drastically reduced" its demand for Nigeria's crude oil in recent months, the Nigerian National Oil Corporation said.
According to bbc The country is currently buying about 250,000 barrels a day.
India now buys considerably more - about 30% of the country's 2.5 million barrels of production.
US demand for imported oil has fallen sharply because of increasing domestic shale gas and oil production - so much so that the International Energy Agency and oil giant BP both forecast that the country will be largely energy independent by 2035.
They R working on being energy indipendent by 2035 yeah?
ReplyDeleteWay 2 go...
*lips sealed and watching*
Ok.
ReplyDeleteMmmmmh @ d end of the day, no improvement in nigeria with al d crude oil been sold!!!!
ReplyDeleteFor real?
ReplyDeletePatt Ogar's fan
I am not surprised
ReplyDeleteYour comment will be visible after approval
cos usa is gradually finding alternative to the use of oil.
ReplyDeleteThat's good to hear. Not that it will have any effect on the common man out there. Since Ukraine rejected our own after US pulled out, its good they got another buyer so fast.
ReplyDeleteNew innovations Stella
ReplyDeleteUS keeps coming up with ways to decrease their dependence on other countries especially when it comes to oil.
So I hope Nigeria begins to look at exportation of our dear crops.
Someone was telling me how he hustles to buy ginger in our local market here,then exports to malaysia...dunno if it's through black market ooh...but I think time has come for us to remember cocoa,cassava etc....
You are right. Couldn't have said it better.
DeleteOoohhkkk
ReplyDeleteOkay... moving on!
ReplyDeleteK
ReplyDeleteSeen.
ReplyDelete#FaithfulSalt #CheatingIs ForLosers
Salt
Nigeria my country. If all our oil dries up, what will happen to our country?
ReplyDeleteEven if they buy one billion barrel, it doesn't put food on my table.
ReplyDeleteWhen will salt stop wasting space? I will bring water next time.
ReplyDeleteKk so after oil whats next? Next plssssssssss
ReplyDeleteReally? Wao!
ReplyDelete*yawns*
ReplyDeleteHow much are the Indians paying for our oil? Probably below market rate. And what are we giving up in return? More sleazy indian business men coming to Nigeria to make money.
ReplyDelete