Friday, 12 August 2016

India, Spain, Netherlands buy 43% of Nigeria’s crude oil in 1yr – NNPC

According to a document obtained from the Nigerian National Petroleum Corporation (NNPC), India, Spain and The Netherlands have emerged as the biggest buyers of Nigeria’s crude oil over a 12-month period, from June 2015 to May 2016, Vanguard reports.


According to the NNPC, Nigeria exported a total of 319.747 million barrels of crude oil to the three countries in the period under review, representing 42.98% of its total crude oil exports of 743.958 million barrels.

Specifically, India imported 157.527 million barrels of crude oil from Nigeria, representing 21.17% of Nigeria’s total crude oil export, while Spain purchased 84.491 million barrels of the country’s crude oil, representing 11.36% of total exports. The Netherlands followed, accounting for 10.45% of Nigeria’s total crude oil export, with the purchase of 77.729 million barrels of oil.