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Business China, India Keeps Nigeria's Crude oil Revenue Alive


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After being ignored by the United States, four major Asian countries have been patronizing Nigerian crude oil, keeping the country's hope of revenue from crude oil alive, BusinessDay reports:

The countries, China, India, Japan and South Korea, have been responsible for the consumption of about 42 percent of Nigeria’s crude oil export in the first eight months of this year.

According to Platts, a leading global provider of energy information, 42 percent or 819,000 barrels of Nigeria’s crude oil output was taken up by the said countries in the period.

Austin Nweze, a lecturer at the Pan-Atlantic University, said the premium quality of Nigeria’s sweet crude was responsible for the surge in demand from these countries.

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#China #India #Japan #SouthKorea #BusinessDay

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