Trade

U.S’ imports of Nigerian crude hit 559,000 bpd last week - EIA

Thursday, 24 March 2016 19:04

The United States’ importation of Nigerian crude increased to 559,000 bpd a week ago, as refining companies divert to the importation of West African crude.

According to the Energy Information Administration (EIA), Nigeria was the 4th biggest supplier of foreign crude to the U.S., displacing Mexico and also rivaling Iraq and Colombia.

Out of the 11 cargoes of Nigerian crude sent to the United States, eight was received at the East Coast, while the remaining three was sent to the U.S. Gulf Coast.

Together with usual cargoes of Nigeria's Qua Iboe, Bonga and Forcados, two 500,000-barrel cargoes of Usan medium crude were also sent to Shell at South Louisiana Port, making it the first time since 2014 that the crude will be received in the United States.

Nigeria sent more than 1 million bpd to the United States between 2004 to 2007, but a rise in U.S. domestic production which includes shale oil had later made light sweet crude producers in Africa, look for new destinations for their exports, Punch News reports.

However, EIA data showed that, U.S only imported about 58,000 bpd from Nigeria in 2014 and 2015.

Anita Fatunji

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