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LequteMan
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Nigeria, Africa’s biggest crude oil producer, had the highest volume draw from the United States in August, latest data from the U.S Energy Information Administration reveals.
With 5.7 million barrels of the fuel imported from January to August, Nigeria remains the second-largest importer of US jet fuel after Canada. The country had imported 864,000 barrels of US jet fuel in February, rising from 292 barrels in January, The Punch says.
Industry analysts and stakeholders have continued to stress the need to deregulate the downstream sector of the industry to attract private investment in order to ramp up the country’s refining capacity.
Nigeria continues to create a lucrative market for refineries particularly in Europe and the US as it imports more than 80 per cent of its refined petroleum products as a result of inadequate domestic refining capacity.
Meanwhile, other oil exporting countries are increasingly shifting towards meeting their domestic demand for petroleum products and exports of refined products by increasing their refining capacity.
In what is the latest case, Saudi Arabia has built two new refineries that will give it 800,000 barrels per day in refining capacity online in 2015, part of an ambitious downstream drive which will see its refining capacity rise to 8 million bpd in a decade.
#Nigeria #UnitedStates #America
With 5.7 million barrels of the fuel imported from January to August, Nigeria remains the second-largest importer of US jet fuel after Canada. The country had imported 864,000 barrels of US jet fuel in February, rising from 292 barrels in January, The Punch says.
Industry analysts and stakeholders have continued to stress the need to deregulate the downstream sector of the industry to attract private investment in order to ramp up the country’s refining capacity.
Nigeria continues to create a lucrative market for refineries particularly in Europe and the US as it imports more than 80 per cent of its refined petroleum products as a result of inadequate domestic refining capacity.
Meanwhile, other oil exporting countries are increasingly shifting towards meeting their domestic demand for petroleum products and exports of refined products by increasing their refining capacity.
In what is the latest case, Saudi Arabia has built two new refineries that will give it 800,000 barrels per day in refining capacity online in 2015, part of an ambitious downstream drive which will see its refining capacity rise to 8 million bpd in a decade.
#Nigeria #UnitedStates #America
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