Petroleum Africa
Find us on: 
Thursday, May 9, 2013
India has outstripped other net energy importers when it comes to grabbing up crude exports from Nigeria. The country is now the single largest importer of Nigerian crude. According to analysis from Platts, Nigerian crude now accounts for about 17% of India’s crude imports.
Global Editorial Director of Oil News, Richard Swann, said that the emergence of India as the largest consumer of Nigerian crude occurred rapidly over the past year.
“India’s demand for crude oil is constantly rising and it makes economic sense to ship it from Africa due to the geographical proximity,” Swann said.
India overtook the US, traditionally Nigeria’s largest crude import partner, primarily due to the fact that the US is depending less on imports because of the development of shale gas and shale liquid in the country. Over the past five years the US’ reliance on Nigerian crude imports has dropped 63%, going from a peak of 1.084 million bpd in 2007 to just 405,000 bpd in 2012 according to data from the EIA.
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
