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China Replaces United States As Nigeria’s Number One Crude Oil Importer

published by Aletho News on Wed, 2012-08-15 03:42

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr. Andrew Yakubu, has said China had become the alternative market for Nigeria’s crude oil, following dwindling imports by the United States, which was the major buyer of Nigeria’s crude oil. [...]

Nigeria’s crude oil export to the United States, which was over one million barrels per day (bpd) in December 2009, had declined to 352,000bpd, representing a loss of about 70% [...]

Refiners that use Nigeria crude oil are also closing plants on the United States East Coast, the main destination for Nigerian exports, amid falling returns on investment. … Full article

African Globe | August 14, 2012

Comments

Submitted by Heydrich on Wed, 2012-08-15 04:16.

I don’t know if this article is accurate, but it has been reprinted in several blogs and news sites. 

The two articles below concur that U.S. demand for Nigerian oil is at a five-year low, and that Nigerian oil exports are falling in general.

http://leadership.ng/nga/articles/31978/2012/08/08/nigerias_crude_export_china_closes_us_demand_gap.html

http://allafrica.com/stories/201208020687.html

Declining demand is tough on Nigeria, which depends on oil exports for more than 80 percent of government revenue, and 95 percent of foreign-exchange income.

Nigeria is among the world's top ten oil exporters, and its light, sweet crude is ideal for making motor fuel (gasoline, kerosene, and high-quality diesel). Libya’s oil is even better.

It’s called “sweet” because oil prospectors in the 1800s would literally taste oil to determine its quality. Oil tasted “sweet” if it had a low sulfur content.

Nigeria also has the world's seventh-largest gas reserves, and has more proven oil in the ground than the rest of sub-Saharan Africa combined.

Regardless of lower US demand, I don’t think USAFRICOM will sit still while China buys oil directly from Nigeria.

Submitted by Aletho News on Wed, 2012-08-15 13:58.

Apparently AFRICOM has been sitting still for years while this has been developing. It would seem that it is Heydrich's world view which needs a check.

There is no struggle with China over resources. That's just a Zionist foil.

??????

Submitted by Heydrich on Thu, 2012-08-16 00:27.

I admit it. I made a mistake. I generously forgave your past idiocy (schizophrenia?) and made a supportive comment on your post, only to have you respond (as always) with insults, gibberish, and strange punctuation -- such as rows of question marks unrelated to any sentence.

I will ignore you from now on.

(Although I wish I could meet you in person.)

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